M&S Food is investing in 200+ products in 2024, as reported by Retail Times. The investment will see price cuts across 65 products, with an average reduction of 6%, demonstrating the brand’s dedication to offering affordable options for its 30 million customers.
The products consist of the Remarksable Value Range, including popular items like baked beans, Fairtrade Rich Roast Instant Coffee, and Easy Cook Long grain rice, showcasing M&S Food’s effort to balance quality and affordability.
M&S launched its Remarksable Value range in 2019. The Remarksable Value range isn’t a budget range. It is made up of everyday staples, price benchmarked against key competitors, which offer great value and never compromise on quality standards. The range includes over 100 products and the brand regularly reviews these products, adding and subtracting as needed.
Alex Freudmann, Managing Director of M&S Food, was quoted by Retail Times as saying: “Our customers are telling us that value is still very much front of mind as we start 2024. In response, we need to keep delivering on our trusted value promise – offering the best possible quality at the best possible price.”
At the same time, M&S Food is also extending its price lock on over 100 products, from soups to shower gel, until after Easter to provide certainty for customers. The positive sales growth of price-locked products in Q3, up 28%, indicates customers’ acceptance and appreciation of these initiatives.
