Waitrose Declares Price War: Slashes 200+ Products by 7% to Outdo M&S’s Rising Sales

Waitrose has initiated a strategic price reduction on more than 200 products, marking a significant move in the competitive landscape of the UK’s retail market. This decision, aimed at regaining market share from M&S, reflects the intensity of the rivalry between these middle-class retail giants. With a reduction averaging 7%, including essential items like potatoes, butter, and chicken breasts, Waitrose is making a bold statement against its competitors, particularly M&S, which has shown an impressive performance in recent months.

Strategic Price Reductions

The recent announcement by Waitrose to lower prices comes after a previous round of cuts in February, showcasing the retailer’s commitment to providing value for money amidst fierce competition. Notably, the price of double cream has been reduced by 12% to £1.10 for a 300ml carton, and a 260g bag of spinach sees an 11% price drop to £1.55. This series of price cuts, the fifth since early 2023, is part of Waitrose’s broader strategy to enhance customer appeal and retain loyalty during challenging economic times.

Battle for Market Dominance

The move to slash prices is a direct response to M&S’s improving grocery sales, which have outpaced even the German discounters Aldi and Lidl in recent periods. Despite the competitive pressure, Waitrose is not only focusing on price reductions but is also investing in the quality of its offerings, particularly in organic ingredients, which are highly valued by its customers. This approach aims to differentiate Waitrose from its competitors by emphasizing value alongside quality.

Investment in Customer Experience and Operations

As part of its fightback strategy, the John Lewis Partnership, owner of Waitrose, has announced plans to renovate 80 stores over the next three years and improve customer service. This initiative is coupled with a broader simplification of its business model, aiming to cut £600m in costs by January 2026. The focus on retail, underscored by Dame Sharon White’s decision to prioritize retail operations over diversification, signals a clear intent to strengthen Waitrose’s position in the market through both competitive pricing and an enhanced shopping experience.

Source: BNN