Affordability in focus: Asda and M&S announce price cuts

The supermarket chains are cutting prices to address the cost of living crisis and in preparation for Christmas

Luke Martin October 13 2023

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. 

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%. 

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.”

Uncover your next opportunity with expert reports

Steer your business strategy with key data and insights from our latest market research reports and company profiles. Not ready to buy? Start small by downloading a sample report first.

Newsletters by sectors

close

Sign up to the newsletter: In Brief

Visit our Privacy Policy for more information about our services, how we may use, process and share your personal data, including information of your rights in respect of your personal data and how you can unsubscribe from future marketing communications. Our services are intended for corporate subscribers and you warrant that the email address submitted is your corporate email address.

Thank you for subscribing

View all newsletters from across the GlobalData Media network.

close