UK-based retailer Marks & Spencer (M&S) has committed more than £30m ($40m) this year to reduce prices across 65 food products, targeting family grocery budgets.
The price reductions span fresh food, frozen and store cupboard categories, bringing the retailer's Remarksable Value range to 145 products.
M&S said the cuts apply to existing own-brand lines rather than a separate entry-level tier.
M&S Food managing director Alex Freudmann said: “As we double the size of our Food business, we are continuing to invest in quality and price to bring the best food to our customers.
“These price reductions across key family favourites like salmon, eggs and veg are all part of our commitment to help our customers to eat great-tasting food every day, without compromise. This is another step on our transformation journey as we reinvest for growth.”
Salmon features prominently in the latest round of reductions, with all fresh salmon fillet products now cheaper.
A two-fillet pack of Caledonian Gold salmon has dropped from £5.50 to £4.95, while the four-pack family option has fallen from £10.75 to £9.50 – part of a ten-product reduction across fresh salmon.
M&S cited independent consumer research indicating that 68% of families would eat salmon more frequently if it were more affordable, and that one in five families struggles to consume adequate Omega-3.
Other products seeing lower prices include British lean beef mince 12% at £4.50, a six pack of free-range mixed-size eggs at £1.30, tomato ketchup at 95p and French fries 1.5kg at £2.50.
The investment is part of M&S's broader effort to improve how family shoppers perceive its value proposition.
The retailer said family perceptions of value have risen by ten percentage points over the past two years, with families increasingly open to shopping at M&S Food.
M&S said it plans to continue expanding the Remarksable Value range, which currently covers more than 140 everyday products, with further additions expected over the summer.
Earlier this month, M&S agreed a new franchise arrangement in the Philippines with PT Mitra Adiperkasa, with the first store due to open in Glorietta by the end of this year.
