UK supermarkets including Sainsbury’s, Waitrose and Aldi have all committed to lowering their prices in 2024.

Retailer Sainsbury’s has launched its new Low Everyday Prices, which it said would offer customers “great value” on over 1000 products. This has been implemented alongside the pre-existing Aldi Price Match and Nectar Prices, replacing the retailer’s Price Lock campaign.

Simon Roberts, chief executive of Sainsbury’s, said the campaign was “a simpler way of showcasing our value which allows us more flexibility to respond more quickly to the market” and said that customers would see lower prices on branded products like Heinz, Kellogg’s and Nescafe.

Waitrose focuses on healthier products

Waitrose said it had lowered the prices of over 200 popular products including everyday foods like chicken breasts, potatoes, butter and cream as part of its fifth round of price cuts since February 2023, taking its total investment to £130 million.

The supermarket highlighted that the investment focused on a “wider range of healthier products”, with 40% of the products having the Waitrose Good Health certification.

Charlotte Di Cello, commercial director for Waitrose, said: “Our commitment to giving our customers great value for money continues with our latest investment in price. We are focusing on even more weekly shop staples as well as a large range of organic ingredients which our customers love.

“We continue to offer market-leading quality on our higher welfare products, such as chicken and outdoor-bred pork alongside our best seasonal fruit and vegetables. As always, our quality won’t change but our prices will drop allowing customers to enjoy great value with no compromise.”

Aldi invests £125m in price cuts

Aldi has pledged to cut more prices in 2024, having already invested more than £125 million to reduce prices on around 500 products since the start of the year. The discounter said it was planning to continue cutting prices throughout the rest of the year to beat the £380 million invested in price cuts in 2023.

Giles Hurley, CEO of Aldi UK and Ireland, said: “We are investing more than ever before in lowering prices, and we will continue to do whatever it takes to keep grocery prices as low as possible for the millions of customers that shop with us.”