M&S cuts organic food prices in battle with Waitrose - Times

2 hours ago

(AWP Alliance News) - Marks & Spencer Group PLC is cutting prices across its organic food range as it steps up competition with Waitrose and seeks to capture more of customers' weekly grocery spending, the Sunday Times reported.

The London-based retailer will cut prices on more than 50 organic fruit, vegetable, dairy and meat products, with reductions of as much as GBP1.60, according to the newspaper.

M&S also plans to price-match rivals including J Sainsbury PLC and Waitrose, while some newer Foodhall stores will introduce dedicated "organic zones" bringing ambient, fresh and frozen organic products together.

The changes will cost M&S a further GBP4 million, following GBP30 million invested in lowering food prices over the past year as the retailer seeks to broaden its appeal beyond more expensive and indulgent products.

M&S Food Managing Director Alex Freudmann told the Sunday Times that the company wanted to provide "more reasons to shop with us more often", describing organic food as "a category with huge potential".

The retailer has cut the price of organic white flour to GBP2.05 from GBP2.60, green lentils to GBP2.30 from GBP2.70 and organic lamb mince to GBP6.40 from GBP7.50.

By Eva Castanedo, Alliance News senior economics reporter

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