M&S cut prices on a range of items as shoppers face cost of living crunch
Marks & Spencer has slashed prices on some core grocery items as it hopes to woo shoppers amid rising costs.
Supermarkets are endeavouring to maintain their market shares while shoppers have flocked to discount retailers to mitigate the cost of living crunch in recent weeks.
M&S revealed on Monday that it had lowered prices on “everyday staples” within its Remarksable range, with price cuts of up to 20p.
It comes as many retailers have been forced to hike prices in response to surging cost inflation on labour and ingredients.
New prices, which were introduced on Monday, include bananas at 78p per kilo, instead of 82p and Select Farms RSPCA assured British semi-skimmed milk at £1.20 for four pints, instead of £1.15.
Its highest price discount was on Select Farms 100 per cent British beef mince, which was cut from £3.20 to £3.00.
Stuart Machin, chief operating officer at M&S, said: “We want M&S to be more relevant, more often and that’s why now is the right time to go further, by investing in the value of everyday items families buy week-in week-out, without compromising the quality our customers want and expect from us.”