Online grocery giant Ocado Retail has announced another round of price reductions on over 500 products as part of its “Big Price Drop” initiative. This marks the fourth wave of price cuts introduced since June, bringing the total number of reductions to over 1,000.
The latest price reductions, with an average reduction of 8% across the range, coincide with a rare decline in food prices in the UK, the first such decrease in two years. The price cuts apply to various categories, including fresh produce, ambient goods, and household items, with a particular focus on pantry essentials for the autumn and winter seasons.
Some of the products included in this round of cuts are Kellogg’s Special K, Dolmio Tomato & Basil Sauce, M&S Microwave Basmati Rice, and Ambrosia Devon Custard, among others. Additionally, over 400 Marks & Spencer (M&S) lines, such as M&S British Baby Parsnips, M&S British Swede, and M&S Brown Cooking Onions, are part of this latest wave of reductions.
This move builds on previous price reductions, with Ocado having recently lowered prices on an additional 330 items as part of the Big Price Drop initiative last month. It reflects the company’s commitment to offering its customers competitive pricing and greater value.
These price cuts complement the Ocado Price Promise, introduced earlier this year, which compares prices against Tesco for more than 10,000 like-for-like products. Ocado customers also have access to a wide range of over 700 own-brand grocery lines and Everyday Savers, which offer excellent value on everyday essentials.
Hannah Gibson, CEO of Ocado Retail, emphasized the company’s dedication to delivering value while maintaining its reputation for outstanding service and extensive product selection. She stated, “Ocado is known for its superb service and unbeatable choice, and now more than ever, we’re committed to delivering great value too.”
Despite this commitment, Ocado recently faced a significant setback as its shares plummeted by 20%—the largest drop in 11 years—after being downgraded by a City broker. Nevertheless, the company continues to focus on providing affordability and quality for its customers in the midst of shifting market dynamics.