Morrisons hiked the price of 700 items to pay for its latest Price Crunch campaign, analysis for The Grocer has revealed.
The Bradford retailer slashed the price of 1,067 essentials including bread, tea, and fresh produce by an average of 21% on May Day. But from 1 to 3 May the price of 699 lines rose, according to BrandView.
Herbs & spices saw the most price reductions (69), followed by tea (58), and hair dyes (51).
The price of an iceberg lettuce fell to 50p from 75p, making it the lowest priced amongst Morrisons’ rivals.
But among a host of hikes Bell’s 70cl rose 31% from £13 to £17, Absolut Vodka increased 19% from £16 to £19, Dolmio pasta bake sauces rose 73% from £1 to £1.73, and 12-pack Actimel 0% Fat Yogurt Drink rose 75% from £2 to £3.50.
Morrisons became the cheapest of the big four on the majority of the reduced items. Yet Asda is still cheapest on 40% of the comparable products.
“It may feel chilly and wet this weekend but better weather is coming, so we think it’s the right time to crunch prices that help customers to picnic this summer,” said Morrisons customer and marketing director Andy Atkinson.
The news came in the same week Morrisons supermarket reported its highest growth rate under CEO David Potts.
Morrisons like-for-like sales rose 3.4% in the 13 weeks to 30 April, its sixth consecutive quarter of like-for-like growth. Morrisons said the results indicated there were “more customers shopping more often” at the supermarket.
“We have increased the price on no more than a handful of products,” said a Morrisons spokesman. “The increases are prices on promotion reverting back to their standard price.”
Tesco also announced a price crunch on several hundred lines, including fresh fruit and veg, this week as part of its campaign to promote healthier living.
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