Premier Foods brand, Batchelors has launched a new range of 89p price-marked products as it looks to support retailers by displaying affordability during the cost-of-living crisis.
Rolling out across its Super Noodle and Pasta pots range this month, the move comes as FMCG brands are putting a bigger focus on their value credentials as inflation continues to rise, hitting 12.4% in August.
The brand’s new recommended retail price follows data by Lumina Intelligence which found value for money is the strongest indicator that a shopper will recommend a store.
As the cost-of-living crisis bites, shoppers across the UK are looking to be more money savvy and have been increasingly switching to own-brand items to keep costs down.
As a result of price increases, data from the Office for National Statistics in July revealed that 49% of those surveyed said they are consciously buying less food and drink than they were at the start of the year.
“With the cost-of-living crisis forcing consumers to be even more savvy when shopping, offering value and delivering a strong, engaging message that provides shoppers with ‘value-confidence’ is more important than ever,” Premier Foods customer director for independent, convenience and wholesale, Courtney Lewis said.
“We expect our new price-marked packs to help retailers drive sales by engaging shoppers through a strong value message on-shelf which in turn will help convert more impulse purchases and increase basket spend.”
She added: “We see these price-marked packs providing significant added value throughout the convenience supply chain.
“By stimulating increased purchase volume from consumers, we expect that retailers will sell through more volume, resulting in increased sales for them, and in turn, for wholesalers.”
