MORRISONS PLEDGES TO MATCH OR BEAT RIVAL SUPERMARKET PRICES

Morrisons announced on Monday that it will match or beat the prices of its five largest supermarket competitors across more than 500 essential everyday products. The "unbeatable prices" initiative covers fresh items including bananas, tomatoes, carrots, bread, butter and chicken fillets, as well as products from the retailer's Market Street counters such as fresh fish and bakery goods. Alex Paver, customer and marketing director at Morrisons, stated that customers would not have to choose between competitive pricing and quality at the chain. The pledge signals an intensification of price competition among UK grocers as they seek to retain market share.

Morrisons operates approximately 500 supermarkets and 1,700 convenience stores across Britain. According to Worldpanel figures for the 12 weeks to August, Morrisons held an 8.5 per cent market share, making it the sixth-largest UK supermarket chain. Tesco, Sainsbury's, Asda, Aldi and Lidl hold larger shares, with Lidl having recently overtaken Morrisons. The Bradford-based chain introduced a similar price-match initiative two years ago focused on Aldi and Lidl products specifically.

The announcement comes after Morrisons reported shedding almost 5,000 jobs in the previous year as part of cost-reduction efforts. The private equity-backed grocer has faced financial pressure and sought to improve its competitive position in a challenging retail environment. The new pricing commitment reflects continued efforts to reverse recent market share declines and attract price-conscious shoppers.