UK | M&S Food is investing in the price of over 200 products as it re-affirms its commitment to delivering trusted value for its 30 million customers.
The investment will see price cuts across 65 products with an average reduction of six percent and builds on the over 200 price cuts announced in October. Remarksable Value favourite baked beans, Fairtrade Rich Roast Instant Coffee and Easy Cook Long grain rice are included in this latest round.
M&S launched its Remarksable Value range in 2019 – comprised of over 100 everyday staples with an M&S quality point of difference and price benchmarked against key competitors. Over half of Remarksable Value products have the Eat Well health seal of approval, meaning they meet criteria developed by M&S nutritionists in partnership with the British Nutrition Foundation.
Value remains the foremost consideration for customers, according to the latest insights from M&S Food. The upcoming Family Matters Index from the retailer indicates a slight decline in optimism about family prospects for the next three months (46 percent) compared to October (48 percent). Looking ahead, 40 percent of respondents intend to reduce spending and increase savings in 2024 consciously. Customers prioritise value over location or product range when deciding where to shop.
M&S Food's Managing Director, Alex Freudmann, emphasised the ongoing significance of value for customers in 2024. He shared that the retailer was committed to delivering on the trusted value promise by providing the best quality at the best price. Although the brand's value and quality perception are at a six-year high compared to the market, Freudmann stresses the need for sustained focus on quality, ensuring each product maintains the distinctive M&S touch – from elevated animal welfare standards to pioneering responsible sourcing.
Acknowledging the crucial role of value, M&S CEO Stuart Machin will reach out to customers this week, reaffirming the commitment to delivering exceptional quality at the best possible price in the coming year across both Food and Clothing & Home segments.
