The Co-operative commits £75m to slashing prices in supermarket battle
The Co-operative Group is ploughing a further £75m into cutting prices of every day products in its latest bid to get ahead in the supermarket price war.
The mutual, which has over 2,800 food stores across the UK, said it will slash the cost of over 200 of its own-brand British sourced meat and poultry products, with an average price cut of around 10 per cent.
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The price of six large free range eggs, for example, will fall to £1.29 from £1.75 while 220g salmon fillets will be £2.99 compared with £4 previously. It will also introduce a new multi-buy offer of two for £6 on chicken fillets and mince.
The Co-op's latest round of price cuts comes on top of the £125m its pledged last summer, meaning it will have cut the price of over 1,000 products by the end of its financial year.
It follows similar moves by Asda, which committed another £500m in January, and Morrisons, which is cutting the cost of a further 1,000 products.
Steve Murrells, the Co-op's retail chief executive, said: “This is a major investment in British meat and poultry. We are building momentum and attracting more shoppers into our stores and our price investment programme is ensuring our convenience offering remains highly competitive while restating our commitment to sourcing British products."
Alongside its investment in prices, the Co-op has also pledged to source more British products through measures such as extending its British lamb season in store. It has invested £781m this year in sourcing own brand British meat, produce and dairy products from the UK.