Both supermarkets also announced reductions earlier in 2023. Credit: wisely via Shutterstock.

Asda and M&S Food are cutting prices on more than 200 products in order to deliver trusted value in the cost of living crisis and run-in to the busy Christmas period.

Asda allocates £9m for price reductions

In an effort to support families affected by the cost of living crisis, Asda has declared a noteworthy reduction in the prices of 232 branded and own-label products. 

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Asda’s chief commercial officer Kris Comerford said: “While the recent fall in inflation is welcome news, the average UK household is almost £80 per month worse off compared to two years ago.”

The supermarket is investing £9m ($10.9m) to lower prices by an average of 14%, focusing on essential items such as bread, fresh fruit, vegetables and fresh meat. This follows a previous investment of £35m during July and August.

The Asda Rewards app, benefiting more than five million customers, contributes to additional savings by offering cash back in Cashpots, accumulating more than £200m in earnings since its launch in August 2022.

M&S Food to help customers get ahead for Christmas

In alignment with its commitment to providing trusted value, M&S Food is reducing prices on more than 200 products by an average of 11%. 

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According to the supermarket chain, as 50% of shoppers prepare for Christmas, M&S sees a 22% increase in Christmas food-to-order sales compared to last year.

The latest price adjustments follow cuts in June and an extended price lock until after Christmas.

M&S Food managing director Alex Freudmann said: “While we continue to deliver industry-leading quality, it’s important we don’t lose sight of what’s also important for our customers this autumn – value. That’s why we’re passing on savings to customers and cutting prices once again as part of our trusted value promise.”