Morrisons’s marketing gets thumbs up
Morrison’s has recovered its poise over the first quarter and looks set to storm into summer trading, according to two leading city analysts.
David McCarthy and Andrew Porteous of Evolution Securities branded Morrison’s aggressive pricing policy a winner and said that it’s marketing remains “the best in the sector” - despite losing marketing director, Angus MacIver last year.
They said: “The underlying performance is strong and Morrisons has regained the momentum it looked like it might be losing late last year.”
“Entry rate to the quarter was weak and the exit rate looks very strong - suggesting momentum will continue into the current quarter,” they said.
They deemed Morrison’s ‘Biggest Ever price Crunch’ a more effective strategy than the vouchers currently favoured by Tesco and particularly commended the supermarket’s ‘Fuel Britannia’ campaign. This correctly judged the mindset of consumers and has used cheaper petrol to entice shoppers to visit the stores, they said.