Proactive Investors - J Sainsbury (OTC:JSAIY) is launching the “biggest-ever Aldi price match campaign”, after it added an extra 40 items to the scheme, meaning more than 400 items are now tethered to the UK’s cheapest supermarket.
Soups, bread and apple pies will all be added to the price match scheme as the group claims a slowdown of food inflation means it is now “fully committed to passing on savings to customers”.
Nectar prices will also be improved to help customers, with the programme now available for frozen foods like Goodfella’s stone-baked pepperoni pizza, which normally is worth £3 but drops to £1.50 under the changes.
Simon Roberts, chief executive of Sainsbury’s, said: “We’re continuing to do all we can to battle inflation and as costs fall, so do our prices. We’re passing savings on as fast as we can, wherever we can so that customers get the very best prices when they shop with us.”
“Sainsbury’s value offering will help make delicious meals for busy families, great lunch boxes for the return to school and weekend treats affordable to more customers.”
Ocado Group PLC (LON:OCDO) is also dipping its toes in the supermarket price cut battle, adding an additional 200 items to its ‘Big Price Drop’ as the ‘Back to School’ rush ramps up.
Copella apple juice dropped by 29%, Heinz Beans by 6% and Walkers ready salted crisps by 3%, adding to the 100-item price cut announced in June and the Ocado Price Promise launched at the start of the year.
Ocado Retail chief executive Hannah Gibson said: “Many of the products we’ve reduced today will help with those back-to-school shops and include big-name brands, Ocado Own-Range and M&S items too. We’re committed to offering our customers reassuringly good value and are working hard to add more products to the Big Price Drop soon.”
Sainsbury’s shares are trading relatively flat on Wednesday, having opened at just over 258p, while Ocado is up more than 0.8% after it began trading at around 720p.