Sainsbury’s Price Lock commitment has shrunk by 20% since the start of the year amid rising inflation and soaring bills.
According to The Grocer, the Big 4 retailer currently has 1,640 items quoted in its online Price Lock page down more than 20% from 2,100 in early January.
However, its Price Lock campaign is one of its main value offerings, featuring low prices on branded essentials such as dishwasher tablets, cereals, and tinned tomatoes.
Earlier this year, Sainsbury’s said it in its full-year earnings report it was focused on offering its customers “the best possible value, including through Price Lock, which keeps the prices of around 2,000 essentials locked for at least eight weeks.”
However, the popular value campaign has largely featured under 2,000 items this year due to inflationary pressures.
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“It’s not a surprise that the number of Sainsbury’s Price Lock items has fallen since the start of the year with the immense pressure on cost price increases that all manufacturers and retailers are battling with,” said partner at retail consulting firm IPLC, Paul Stainton.
“With costs going up, we’re working hard to keep our prices low,” Sainsbury’s food commercial director, Rhian Bartlett said.
“Our Sainsbury’s Quality, Aldi Price Match campaign has been really popular and this latest round of investment to strategically target the highest volume items will ensure customers get the best prices on the fresh items they buy day in, day out.
“Customers are watching every penny and we are making it easier for them to buy what they need in our stores. Clearer in-store signs and posters will help customers compare the lowest prices – because we know that really matters to people right now.”
