Sainsbury’s is ramping up the supermarket price war ahead of Christmas with a £50million cost-cutting drive.
The UK’s second biggest grocer has promised to cut the cost of a Christmas roast to £4 per head – cheaper than last year – despite rampant inflation.
It will take the total spent cutting prices by Sainsbury’s to £550million in the two years to next March as it battles to stem the tide of customers to the German discounters Aldi and Lidl.
Sainsbury’s has promised to cut the cost of a Christmas roast to £4 per head – cheaper than last year – despite rampant inflation
The traditional supermarkets are under renewed assault from Aldi and Lidl, with households desperate for ways to cut costs.
The likes of Tesco, Sainsbury’s and Asda are battling to keep prices down, even as it hits their profits, as customers look for the best value.
Shoppers are already ditching the major supermarkets, with prices across the sector rising by an average of 14.7 per cent.
And Morrisons lost its coveted spot in the so-called ‘big four’ in September, overtaken by Aldi, as it pushed up prices faster than rivals.
Lidl has promised to be the cheapest supermarket this Christmas, with a meal for seven costing £23.
And Tesco is fighting for its share of Christmas shoppers, promising a meal for five for £25.
Aldi is expecting its ‘biggest ever Christmas’, with chief executive Giles Hurley claiming that the supermarket is picking up millions of additional customers.
Sainsbury’s said £15million of its £50million investment will go specifically towards lowering the price of festive food as it also fights to hold on to shoppers.
Boss Simon Roberts said: ‘Our job is to do everything we can to help with the rising costs of living.’
