Ocado has implemented its third series of price reductions since June, marking a significant move in the grocery sector.
- A total of 330 items have seen price cuts, bringing the tally of reduced products to over 630.
- Key items in this reduction include staple groceries and non-food products like fabric stain removers.
- The initiative responds to consumer demand for competitive pricing and value.
- CEO Hannah Gibson affirms Ocado’s commitment to providing great value through strategic pricing.
Ocado has announced a substantial price reduction across its product range, marking the third initiative of its kind since June. This development is part of the ‘Big Price Drop’ strategy aimed at boosting consumer affordability. The current phase involves reducing prices on 330 additional items, effectively increasing the total count of discounted products to over 630. This move is indicative of the company’s aggressive stance on competitive pricing in a challenging market environment.
The list of newly discounted items features essential grocery products such as Warburtons plain bagels, M&S Oakham Gold chicken breast fillets, and Ripen At Home Conference pears. Additionally, McCain frozen hash browns mark significant inclusion in the range of reduced goods. Notably, the price of Vanish Oxi Actions fabric stain remover has been slashed by 38%, reducing its price from £6.50 to £4. Such substantial price cuts reflect Ocado’s effort to cater to a broad spectrum of consumer needs, extending beyond food to essential household products.
Ocado’s pricing strategy seems to be resonating with consumers as evidenced by sales figures. Last year alone, the company sold nearly 70 tonnes of Warburtons plain bagels and over four million Ocado own-brand pears. These figures suggest that the company’s emphasis on value and affordability is effectively fostering consumer loyalty and encouraging repeat purchase behaviour.
Historically, this is not Ocado’s first engagement in price reductions; June saw a similar initiative with a 100-item reduction, which was followed by another phase targeting 200 ‘back to school’ products the following month. These continuous efforts underline Ocado’s commitment to competitive pricing and expanded consumer choice.
CEO Hannah Gibson reiterated the company’s dedication to value, stating, “Ocado is more committed than ever to delivering great value… we’re working hard to add even more items to the Big Price Drop so that alongside our amazing service and unbeatable choice, our customers are getting reassuringly good value too through competitive prices and Ocado Price Promise.” Her statement encapsulates Ocado’s strategic focus on maintaining a competitive edge through diligent price management.
Ocado’s ongoing price reduction strategy underscores its commitment to delivering value and choice in a competitive market.
