Morrisons cuts prices for third time this year as shoppers switch to Aldi

Morrisons has rolled out price cuts across a further 490 products in its third attempt this year to stop shoppers from switching to discount grocer Aldi.

According to reporting by The Telegraph, the new price reductions will roll out across select fresh meat, baby essentials and freezer items.

As part of its new efforts to help consumers cut costs, Morrisons has also said it will be extending a price lock of over 1,000 products for at least another eight weeks.

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This follows its initial price cuts to 820 products in January on items including pears, potatoes, aubergines, sandwich fillers and sirloin steaks, which saw 20% price drops on average.

Last month, the supermarket giant said that it would invest £25 million to reduce prices by an average of 19% across a further 64 items including own-brand fresh produce like salad vegetables and carrots, as well as cupboard essentials such as rice and coffee.

In a further bid to attract more customers, Morrisons revealed earlier this month that it would re-launch and re-brand its Savers range with new blue and white packaging which would draw more shoppers to the lower-priced products.

This comes as Morrisons looks to draw back its shoppers that have since moved over to Aldi, since the discount grocer overtook its position as the UK’s fourth largest grocer in 2022.

Two years ago, the supermarket chain was bought by US firm Clayton, Dublier and Rice, however it has since made a loss of £1.5 billion, while credit rating agency, Moody’s had said Morrisons ability to repay its £7.5 billion of debts has switched from stable to negative.



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