21st October 2020
Following the news that Waitrose and Co-op are to cut their prices, George Charles, spokesperson for www.MoneySavingHeroes.co.uk, commented:
“It has become impossible for the premium retailers to compete with the budget food outlets. A growing number of Britons are losing their main source of income, meaning they can no longer purchase their weekly shop in stores that offer food and goods at a higher price point. Britons across the country are having to reassess their monthly budget and cut costs wherever possible, meaning many are opting to shop in the likes of Aldi and Lidl who sell goods often far cheaper than those offered by the ‘big four’.
Co-op and Waitrose are known to sell premium goods but this often comes with a premium price point. This is a commendable move by both supermarkets as Christmas this year will be challenging for all and the smallest price change could make a huge difference. It will be interesting to see how this is received and whether both chains see a rise in profits after investing a fair chunk of money in the move.”