Sainsbury’s invests £220m to “lower prices” of popular products

Sainsbury’s, one of the big four supermarkets in the UK, has announced that it has invested a total of £220 million as a way of “lowering prices” of “consumer favourites”.

Since its Food First strategy was launched three years ago, the supermarket giant has said that it has invested £780 million to cut costs for shoppers. But what products have been impacted by this investment? Some 6,000 items will be included in Nectar Prices with a half price offer from 24 Wednesday January, including Lurpak, Cathedral City and innocent.

The company claims the investment has been “made possible” through its Save to Invest programme, an initiative that has reportedly saved £1.3 billion across the business over three years.

“We’ve been working hard to reduce costs across our business so that we can give more value back to our customers and help to bring down inflation. Our investment of £220 million this financial year, and £780 million over three years into lowering our prices means that customers can be confident whatever they are shopping for, they will find great value on the products they love at Sainsbury’s,” said Simon Roberts, Chief Executive of Sainsbury’s.

In store, consumers that has signed up to the Nectar card scheme will have access to Nectar Prices. In fact, Sainsbury’s has said that, less than 12 months since it was launched, Nectar Prices have “helped customers save an average of £16 on an £80 shop during Christmas week”.

51 percent of consumers “highly concerned” about food affordability

“Sainsbury’s is committed to helping customers enjoy good food, whatever their budget. We have made further investments this month in lowering prices on own brand fresh family favourites to help customers stay healthy this winter, including fruit and veg staples like berries, prepared salads, sugarsnap peas and mangetout,” continued Roberts.

“Sainsbury’s move last year to bring all of its entry price point products into a single brand, Stamford Street, has also proved popular with customers. With over 200 products in the range and an expanded number in convenience stores, its distinctive packaging makes it easier than ever for customers to find everyday staples at budget-friendly prices.”

Contending with food inflation and the cost of living crisis, UK shoppers are likely looking to cut down on spending when completing their weekly shop. With “lower prices” on offer, could those who typically opt for other popular supermarkets be interested in switching to Sainsbury’s? Or will they sought low prices elsewhere such as at Aldi, a discount supermarket that was recently crowned Britain’s “favourite supermarket”?