Morrisons Launches Unbeatable Price Pledge to Regain Market Share

Morrisons launched an unbeatable prices promise on Monday, pledging that customers will not pay more for over 500 essential items than they would at Asda, Tesco, Sainsbury's, Aldi, or Lidl. The initiative covers weekly staples such as bread, butter, chicken fillets, and fresh produce, as well as items from the retailer's Market Street bakery and fishmonger counters.

The pricing strategy aims to recover market share in the UK grocery sector. Worldpanel data from the 12 weeks leading up to August showed the retailer holds an 8.5% market share, ranking it as the sixth-largest supermarket group behind its primary rivals. This move follows a previous price-match scheme specifically targeting Aldi and Lidl.

The private equity-backed company is attempting to turn around its performance after cutting nearly 5,000 jobs last year to stabilize its finances. Customer and Marketing Director Alex Paver stated that the commitment ensures customers do not have to choose between quality and price.