Supermarket giant Sainsbury’s has made a major announcement to shoppers about the price of its most popular items.
The retailer has said it will invest £50 million into the price of its products in a move which will make dozens of popular items cheaper for shoppers.
The supermarket chain said the move will see 60 core fresh produce, meat and dairy products cut in price by the end of the month.
It is the latest step in the retailer’s plan to “put food back at the heart of the business” and focus on improving value amid continued competition for customers from German discount rivals Aldi and Lidl.
It also comes after Sainsbury’s launched its Aldi Price Match scheme earlier this year to reduce the price of hundreds of items.
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Sainsbury’s said the latest round of price cuts will land this week, covering everyday essentials including chicken, bacon, herbs and potatoes.
Around 43 items will be reduced on July 7, with a raft of further reductions taking the total of 60 by the end of the month.
The retailer added that its current Aldi Price Match and Price Lock are “already making a significant difference and getting a good early response from customers”.
Rhian Bartlett, Sainsbury’s food commercial director, said: “Now more than ever we know we need to do more to deliver the great quality customers expect from Sainsbury’s, at great prices.
“It’s our mission to help everyone eat better and these price reductions are the latest step to show how serious we are about delivering on this promise to customers.
“Including everyday items and recipe essentials, we hope this will help shoppers save on their groceries and enjoy the month ahead.”
Sainsbury’s has seen strong sales over the past year as it remained open during coronavirus lockdowns.
Sales for the 12 months to March jumped by 7.8%, although the business dropped to £261 million loss for the year after it was impacted by £485 million in Covid related costs.