Morrisons has launched an "unbeatable prices" commitment, pledging it will not be beaten on price by any of the five major supermarket rivals. The pledge applies to 500 weekly essentials and signals another potential intensification in the price war among the UK's top grocers.
What the pledge covers
Low prices are guaranteed on fresh products including bananas, tomatoes and carrots, as well as staples such as bread, butter and chicken fillets. Fresh lines across the retailer's Market Street counters, such as its fishmongers and bakeries, are also included.
Morrisons has around 500 supermarkets and 1,700 convenience shops. The company will be hoping its pricing strategy can help drive a recovery in its share of the UK grocery market, which has slipped back in recent years.
Market position and recent performance
The green-ladled brand is the sixth-largest supermarket group by market share. It held 8.5% of the market in the 12 weeks to August, according to recent figures from Worldpanel. It was recently overtaken by Lidl and remains behind Aldi, Asda, Sainsbury's and Tesco.
Just days earlier, accounts showed that Morrisons shed almost 5,000 jobs last year as part of efforts to shore up its finances and turn around its performance. Two years ago, Morrisons first launched a price match against hundreds of Aldi and Lidl products as part of its fightback against the German discounters.
