Britain’s Sainsbury’s adds top sellers to price match system

The brand is seen on a shopping cart at a branch of Sainsbury’s supermarket in London, Britain January 7, 2022. REUTERS/Toby Melville/File Photo

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LONDON, June 15 (Reuters) – British supermarket group Sainsbury’s (SBRY.L), seeking an edge amid a deepening cost of living crisis, will for the first time include its ranges the most sold in a program that corresponds to the prices of German companies. Aldi discounter.

Pessimism among UK households has reached unprecedented levels as wages struggle to keep pace with inflation which hit 9% in April and is heading into double digits.

In an attempt to dissuade cash-strapped shoppers from switching to discounters Aldi and Lidl, Sainsbury’s, Britain’s second-largest grocer and market leader Tesco (TSCO.L) have programs that match Aldi’s prices on certain products.

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Sainsbury’s said on Wednesday that its 20 largest items would now come with prices at Aldi.

Other changes to the program, which launched in February 2021, will see 150 of its largest fresh produce included in a total of 250 equally priced products.

Sainsbury’s said the focus will be on key drivers of meat and poultry footfall. Over 60% more volume in these categories will be included in the program.

Other key items such as butter, onions, cauliflower and oven fries will also be included.

In total, more than 6% of Sainsbury’s total volume will now be price-matched to Aldi.

Aldi declined to comment.

Sainsbury’s move is part of its plan to spend £500m ($603m) over the two years to March 2023 to limit prices. Read more

Monthly industry data showed Sainsbury’s loss of market share based on sales value. Read more

However, Sainsbury’s says it is raising prices less than its main competitors and gaining market share by volume.

In April, Tesco and Sainsbury’s warned of falling profits this year. Read more

Tesco will provide an update on first quarter trading on Friday. Read more

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Reporting by James Davey Editing by Mark Potter

Our standards: The Thomson Reuters Trust Principles.

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