M&S Food is locking the prices of over 100 customer favourites until the end of January 2023, as 61% of its shoppers prioritise value as the most important factor when deciding where to shop.
The new price lock will sit alongside M&S’ existing Remarksable Value range which offers over 100 everyday staples, all price benchmarked against key grocery competitors.
It comes on the back of the retailer’s latest Family Matters Index, which revealed that 61% of people believe that value is the single most important factor when deciding where to shop, above convenience.
Both Price Lock and Remarksable Value are part of M&S’ commitment to provide trusted value for its 30m customers across the UK, without compromising on quality and sourcing standards.
M&S chief executive Stuart Machin said: “M&S has never been premium. Whether it was our founders’ “don’t ask the price, it’s a penny” slogan or today’s Remarksable Value commitment, M&S has always been about delivering the best possible quality at the best possible price for our customers.
“For nearly 140 years customers have turned to us for our trusted value and we never take that trust for granted. That’s why we have invested again today to keep that value promise; giving them confidence that prices are locked on many of their favourite products.”
M&S recently revealed that it will be opening 104 new “bigger and fresher” ‘Simply Food’ stores over the next three years, as part of its ongoing focus on its food business amid a difficult economic backdrop and the ongoing cost-of-living crisis.
The Family Matters Index also shows that in the last six months, 62% of UK adults have scaled back on eating out, with 82% of those cooking meals at home instead.
In response, M&S Food has launched a brand new £10 Steak Night Dine In deal for two. M&S Food has sold more than 200 million Dine In meals since it first launched the offer in 2008, when value was also front of mind for families.