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Sainsbury’s price investment is set to top £500m in a bid to help customers amid the ongoing cost of living crisis.
It comes as the group said it was aware of rising pressures on household budgets, adding it was determined to “offer low prices and deliver the best possible value for our customers”.
The £500m commitment will go towards lowering prices to help customers manage inflation, and the amount includes investment in prices over the last financial year plus money that will be committed to supporting customers in the current financial year to March 2023.
Sainsbury’s said it is focused on investing on the essential items including milk, eggs, meat, fish, fruit and vegetables and key household essentials, with “no compromise on quality or sustainability”.
In addition, campaigns such as Price Lock, which holds the prices of over 1,800 essential items for at least eight weeks, and Sainsbury’s Quality, Aldi Price Match, will continue to be key areas of investment.
Simon Roberts, CEO at Sainsbury’s said: “The cost of living is having a huge impact on our customers’ and colleagues’ lives and we understand that, right now, every penny counts. We are determined to stand side by side with our customers and we are relentlessly focused on driving savings that can be reinvested into keeping food prices low.
“Customers can be reassured that when they shop at Sainsbury’s they are getting fantastic value and quality, which means they do not need to go anywhere else to get low prices.”
