Marks and Spencer (M&S) Food has announced a significant price investment in more than 200 products, as part of its trusted value promise for 2024.
The move re-inforces its commitment to offer value to its 30 million customers.
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The initiative includes price reductions across 65 products, with an average cut of 6%, and follows the more than 200 price cuts announced in October 2023.
The latest investment round will include popular items such as Remarkable Value baked beans, Fairtrade rich roast instant coffee, and easy-cook long grain rice.
M&S Food is also extending its price lock on more than 100 of its most-sold products until after Easter 2024.
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The price investment is timely, as M&S Food’s forthcoming Family Matters Index indicates a dip in consumer optimism regarding family prospects in the coming first quarter of 2024, with 46% feeling less optimistic compared to 48% in October 2023.
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By GlobalDataM&S Food managing director Alex Freudmann stated: “Our customers are telling us that value is still very much front of mind as we start off 2024. In response, we need to keep delivering on our trusted value promise – offering the best possible quality at the best possible price.”
“Our value and quality perception are at their highest point in six years compared to the market but we can’t be complacent. We need to keep our relentless focus on quality – making sure each and every product we offer has that M&S point of difference, from raising the bar on animal welfare to leading the way in responsible sourcing. All while, of course, offering that touch of M&S magic our 30 million customers know and love.”
