Morrisons enters meat price war fray
Morrisons is the latest supermarket to force down the prices of its everyday meat products, with bacon and mince seeing the biggest cuts.
In a bid to keep up with the ongoing supermarket price war, the major supermarket will drop the price of 300g packs of bacon by 15% from £2.55 to £2.18, 500g packs of beef mince have also been cut from by 20% from £2.49 to £1.99 or two for £3.50. Morrisons also reported reduced prices for beef and chicken products.
The price war was sparked by the success of discount retailers Aldi and Lidl and, since December 2013, the four main supermarkets – Asda, Tesco, Sainsbury’s and now Morrisons – have cut their prices of fresh meat considerably. Last week Meatinfo reported that, along with The Co-operative, Tesco was to cut the price of their everyday value 210g pack of unsmoked bacon by 39p.
Morrisons chief executive Dalton Philips said the supermarket was “cutting prices not corners” with its recent move: “We are making great food even more affordable and, in doing so, giving more reasons for customers to shop with us,” Philips added.
Commenting on the new price transparency website, Philips said: “We’re serious about getting cheaper and setting new standards in the transparency of pricing. We want our customers to be proud of the products they buy and be reassured that they are cheaper. We have nothing to hide.”
The National Farmers’ Union (NFU) and Bpex remain calm about the situation as they said supermarkets will bear the brunt of the price cuts.
Want more stories like this in your inbox?
Sign up for our FREE email newsletter
- beef mince
- price wars
- price drop
- everyday meat
01 - 03 November, 2016
China Foodtech 2017
07 November, 2016
Butcher’s Shop of the Year
01 December, 2016, 8:30 - 13:30
Policy priorities for the UK food, drink and farming industry