UK retailer Sainsbury’s has announced that it is to invest a further £50 million (€58.2 million) by March 2023 to help customers cope with rising prices.
The retailer has already earmarked over £15 million (€17.5 million) to ensure people find more affordable festive products and traditional treats as it believes this Christmas will be difficult for many customers.
The retailer is offering fresh products for the festive season, including a Christmas roast dinner, as well as special offers and low prices on party food and puddings.
Simon Roberts, chief executive of Sainsbury’s, said, "We really understand that millions of households are having to make really tough decisions this Christmas and our job is to do everything we can to help with the rising costs of living. [...] We know everyone wants to enjoy a special Christmas meal together, which is why we are keeping inflation at bay and offering Christmas roast dinner for less than £4 per head - cheaper than it was last year."
Earlier, Sainsbury’s launched its September value offer, spending £65 million (€75.7 million) across the business to help ease the pressure on households through autumn.
By March 2023, its investment to help customers deal with the cost-of-living crisis will exceed £550 million in value, which according to the retailer, is the most it has ever spent on battling price inflation over a two-year period.
This figure is also 10% more than the original target of £500 million set by Sainsbury’s in May earlier this year.
Everyday value is at the heart of Sainsbury’s plan, and more money is also being invested to keep prices low on the items customers buy most often, the retailer noted.
Its Aldi Price Match offer focuses on frequently bought fresh products and the Price Lock campaign continues to keep the prices of household essentials level.
Elsewhere, Nectar will continue to offer customers rewards, with My Nectar Prices now available through SmartShop.
It helps customers see how much they are spending and offers personalised price reductions.
© 2022 European Supermarket Magazine – your source for the latest retail news. Article by Dayeeta Das. Click subscribe to sign up to ESM: European Supermarket Magazine.