Marks & Spencer has pledged to lock prices for all products in its Remarksable value range for the duration of summer.
The retailer is committing to keeping prices locked for an array of everyday essential food items, such as beef mince, spaghetti and bread.
The only Remarksable product that will not be part of the summer price lock initiative is M&S’s RSPCA Assured milk, as prices are in line with the company’s 1999 milk pledge – which guarantees dairy farmers a “fair and sustainable price”.
M&S had already slashed the prices of a number of key shopping staples in its value range earlier in the year to help customers navigate the cost of living crisis.
At the time, CEO Stuart Machin said the decision was made to make M&S Food “more relevant” amid soaring costs.
However, some of those items have already risen in price since the April announcement as the industry keeps battling mounting supply chain inflationary pressures.
For example, M&S’s white bread loaf 800g was previously 60p, whilst its Remarksable Italian spaghetti 500g cost 75p three months ago. These products’ prices have now been locked at 70p and 85p respectively as part of the summer campaign.
“In our promise to provide trusted value to our customers, we will remain competitive on price without compromising on quality,” an M&S spokeswoman said.
Tom Kerridge partnership
This latest move is part of a wider M&S Food three-year partnership with chef Tom Kerridge, who has joined forces with the retailer to encourage customers to cook more affordable and sustainable meals at home.
The Michelin-starred chef has designed a meal planner including recipes for a family of four, coming in at under £2 per person per meal. The recipes feature Remarksable products.
“It’s fantastic to team up with Tom Kerridge,” said M&S Food marketing director Sharry Cramond. “Great value matters now more than ever and we want to make it as easy as possible for families to create delicious dishes from the comfort of their home.”
Kerridge added that this link-up was “important” to him because M&S “don’t compromise on quality even with their Remarksable value ingredients”.
As part of its transformation strategy, M&S has invested over £100m in its value position over the past three years, it said.
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