M&S Extends Price Lock on Essentials Plus New Price Cuts

• M&S Food is extending its price lock and reducing the cost of 65 essential products.
• The price reduction averages 6%, adding to previous cuts on over 200 items.
• The extension aims to assist customers during the cost-of-living crisis, lasting until after Easter.

M&S Food has announced an extension of its price lock initiative, alongside a reduction in the prices of 65 essential food items. This move, which averages a 6% price cut, builds upon the October price reductions on over 200 products. M&S aims to sustain its "trusted value" promise to consumers, particularly during the ongoing cost-of-living crisis. As a result, the price lock on 140 products will be maintained until after Easter.

Alex Freudmann, M&S Food's managing director, emphasized the importance of continuing to deliver on the company's promise of quality at competitive prices. He noted that M&S's value and quality perception are at a six-year high but stressed the need for ongoing focus on quality and responsible sourcing, combined with the unique M&S experience.

Aoife Morgan at Retail Gazette reported these developments, highlighting M&S's commitment to supporting its customers through challenging economic times. The article also mentions M&S's recent financial success, with a notable 8.1% surge in sales during the festive period, achieving £3.6 billion in revenue.

Tom Church, Co-Founder of LatestDeals.co.uk, commented, "M&S's decision to extend its price lock and reduce essential food item prices reflects a proactive approach to easing the burden on consumers during tough economic times. Such initiatives are crucial in maintaining customer loyalty and trust, especially when household budgets are stretched."