![\"Retail](\"https:\/\/dmsretail.com\/RetailNews\/wp-content\/uploads\/2022\/05\/RETAIL-ONLINE-TRAINING-728-X-90.png\")
<\/a><\/p>\n<\/p>\n
![\"Sainsbury's](\"https:\/\/www.retailgazette.co.uk\/wp-content\/uploads\/2023\/01\/Sainsburys-NL-2-696x392.jpeg\" "\\"Sainsbury's\\"\/")
\/\/<\/span> Sainsbury\u2019s is to push Nectar prices \u201cfurther and faster\u201d with plans to bring it online<\/h6>\n\/\/ <\/span>The grocer also promised a new price push around entry price points<\/h6>\nSainsbury\u2019s has promised a new price salvo around its entry price points as it expands its Nectar Prices online.<\/span><\/p>\nThe move come as Britain\u2019s second biggest supermarket looks to boost its value credentials to win share in an increasingly price sensitive market.<\/p>\n
Boss Simon Roberts said the new initiative move to lower entry price points \u2013 which he said was the grocer\u2019s \u201cfastest growing tier\u201d \u2013 would launch \u201cin the next few weeks\u201d.<\/span><\/p>\n\u201cWe\u2019ve definitely seen a shift to entry price points. Customers are looking on the shelf and they\u2019re making choices,\u201d he said.<\/span><\/p>\n\u201cWe\u2019ve got more news coming in the next few weeks. You\u2019ll see us do more in entry price points \u2013 it\u2019s really important to customers.\u201d<\/span><\/p>\nValue was a keen theme of Sainsbury\u2019s full-year results today as its investment in keeping prices low amid soaring inflation hit its profits.<\/span><\/p>\n\n\n\u201cWe really get how tough life is for so many households right now which is why we are absolutely determined to battle inflation for our customers,\u201d Simon Roberts, CEO, Sainsbury\u2019s<\/span><\/p>\n<\/blockquote>\n<\/div>\nThe grocer made an<\/span> underlying pre-tax profit of \u00a3690m in the year to March 4, which despite being at the top end of guidance, was down from the \u00a3730m it made in 2021-22.<\/span><\/p>\nRoberts said: \u201cWe could have made choices to make more money last year. We didn\u2019t choose to do that because it wasn\u2019t the right thing to do. We chose to put more money into value.\u201d<\/span><\/p>\n\u201cWe really get how tough life is for so many households right now which is why we are absolutely determined to battle inflation for our customers.\u00a0<\/span><\/p>\n\u201cOur focus on value has never been greater<\/span> and we have spent over<\/span> \u00a3560 million keeping our prices low<\/span> over the last two years<\/span>. As a result, we are now the best value compared to our competitors that we have been in many years and we are delivering improved market share performance in Sainsbury\u2019s and Argos.\u201d<\/span><\/p>\nRoberts strived that Sainsbury\u2019s was \u201cdoing everything possible\u201d to minimise price rises amid soaring inflation and said it was \u201cinflating behind our competitors\u201d, at \u201cless than half the headline rate\u201d seen in the ONS\u2019 food inflation figures, which rose to 19.2% in March.<\/span><\/p>\n\u00a0<\/p>\n
Subscribe to Retail Gazette for free<\/strong><\/h5>\nSign up\u00a0here\u00a0to g<\/span>et the latest news straight into your inbox each morning<\/span><\/p>\nIt is set to expand one of its new price initiatives, Nectar Prices, which launched earlier this month.<\/span><\/p>\n![\"Sainsbury\u2019s](\"https:\/\/www.retailgazette.co.uk\/wp-content\/uploads\/2023\/04\/CPG_Sainsburys_Nectar_Prices_002.jpg\")
<\/p>\n
Roberts said the grocer saw the opportunity to go \u201ca lot further and faster\u201d with Nectar Prices, which offers its loyalty scheme members prices up to 30% to 50% cheaper on branded goods, similar to Tesco\u2019s Clubcard Prices.<\/span><\/p>\nThis includes expanding the products covered by the loyalty scheme to \u201ca wider part of the store\u201d and bringing it online.<\/span><\/p>\n\u201cThat\u2019s really important because there\u2019s lots of big basket shopping online,\u201d he said.<\/span><\/p>\nHowever, it has no plans to extend Nectar Prices into its convenience stores.<\/p>\n
Sainsbury\u2019s investment in price is paying off with its price index against Aldi soaring 1,610 basis points over the past two years.<\/p>\n
Roberts said:\u201dWe\u2019re seeing value perception improving. We\u2019re seeing more customers coming back to shop with us and we\u2019re seeing much less switching to the limited choice supermarkets than our direct competitors.\u201d<\/span><\/p>\n
Sainsbury\u2019s has promised a new price salvo around its entry price points as it expands its Nectar Prices online.<\/span><\/p>\n The move come as Britain\u2019s second biggest supermarket looks to boost its value credentials to win share in an increasingly price sensitive market.<\/p>\n Boss Simon Roberts said the new initiative move to lower entry price points \u2013 which he said was the grocer\u2019s \u201cfastest growing tier\u201d \u2013 would launch \u201cin the next few weeks\u201d.<\/span><\/p>\n \u201cWe\u2019ve definitely seen a shift to entry price points. Customers are looking on the shelf and they\u2019re making choices,\u201d he said.<\/span><\/p>\n \u201cWe\u2019ve got more news coming in the next few weeks. You\u2019ll see us do more in entry price points \u2013 it\u2019s really important to customers.\u201d<\/span><\/p>\n Value was a keen theme of Sainsbury\u2019s full-year results today as its investment in keeping prices low amid soaring inflation hit its profits.<\/span><\/p>\n \u201cWe really get how tough life is for so many households right now which is why we are absolutely determined to battle inflation for our customers,\u201d Simon Roberts, CEO, Sainsbury\u2019s<\/span><\/p>\n<\/blockquote>\n<\/div>\n The grocer made an<\/span> underlying pre-tax profit of \u00a3690m in the year to March 4, which despite being at the top end of guidance, was down from the \u00a3730m it made in 2021-22.<\/span><\/p>\n Roberts said: \u201cWe could have made choices to make more money last year. We didn\u2019t choose to do that because it wasn\u2019t the right thing to do. We chose to put more money into value.\u201d<\/span><\/p>\n \u201cWe really get how tough life is for so many households right now which is why we are absolutely determined to battle inflation for our customers.\u00a0<\/span><\/p>\n \u201cOur focus on value has never been greater<\/span> and we have spent over<\/span> \u00a3560 million keeping our prices low<\/span> over the last two years<\/span>. As a result, we are now the best value compared to our competitors that we have been in many years and we are delivering improved market share performance in Sainsbury\u2019s and Argos.\u201d<\/span><\/p>\n Roberts strived that Sainsbury\u2019s was \u201cdoing everything possible\u201d to minimise price rises amid soaring inflation and said it was \u201cinflating behind our competitors\u201d, at \u201cless than half the headline rate\u201d seen in the ONS\u2019 food inflation figures, which rose to 19.2% in March.<\/span><\/p>\n \u00a0<\/p>\n Sign up\u00a0here\u00a0to g<\/span>et the latest news straight into your inbox each morning<\/span><\/p>\n It is set to expand one of its new price initiatives, Nectar Prices, which launched earlier this month.<\/span><\/p>\n Roberts said the grocer saw the opportunity to go \u201ca lot further and faster\u201d with Nectar Prices, which offers its loyalty scheme members prices up to 30% to 50% cheaper on branded goods, similar to Tesco\u2019s Clubcard Prices.<\/span><\/p>\n This includes expanding the products covered by the loyalty scheme to \u201ca wider part of the store\u201d and bringing it online.<\/span><\/p>\n \u201cThat\u2019s really important because there\u2019s lots of big basket shopping online,\u201d he said.<\/span><\/p>\n However, it has no plans to extend Nectar Prices into its convenience stores.<\/p>\n Sainsbury\u2019s investment in price is paying off with its price index against Aldi soaring 1,610 basis points over the past two years.<\/p>\n Roberts said:\u201dWe\u2019re seeing value perception improving. We\u2019re seeing more customers coming back to shop with us and we\u2019re seeing much less switching to the limited choice supermarkets than our direct competitors.\u201d<\/span><\/p>\n\n
Subscribe to Retail Gazette for free<\/strong><\/h5>\n
<\/p>\n