UK supermarket giant Sainsbury's has announced that it is cutting the prices of 930 grocery products in its stores and online.
The retailer says that it plans to invest £150 million in these price reductions, which are expected to benefit over 12 million customers.
Prices are being reduced on a wide range of every day items, including cereal, vegetables, meat, cheese, pasta, ready meals, toiletries, and household items.
Sainsbury's estimates that a 'typical' weekly family shop will now be 8% cheaper than before.
"These low prices now give customers more reasons to visit our stores," said Mike Coupe, CEO of Sainsbury's.
"They can do their entire shop with us, confident that they are getting great low prices as well as Sainsbury's quality and choice. We are committed to making shopping with us a great experience and today's announcement is further demonstration of how we are investing to help our millions of customers live well for less."
Sainsbury's is currently the second largest supermarket operator in the UK, behind retail giant Tesco, with 16.2% market share, according to the latest figures from Kantar Worldpanel.
Earlier this month, the grocer announced that it is investing over £100 million in its staff this year, increasing the base rate of pay for store employees.
However, in January, the retailer also said it plans to cut management positions across its convenience stores and supermarkets.
© 2018 European Supermarket Magazine – your source for the latest retail news. Article by Sarah Harford. Click subscribe to sign up to ESM: The European Supermarket Magazine.