Marks & Spencer is making a major push to win over budget-conscious shoppers, launching more than 30 new value products this month. The retail giant aims to strengthen its position against the UK's leading supermarkets and attract more families to its food halls.
Expanding the Value Range for Families
The new additions are part of M&S's ongoing investment in its value lines, which include the 'remarksable value', 'dropped & locked', and 'bigger pack, better value' tiers. These ranges have already proven popular, with sales surging by 20 per cent in the third quarter of last year. The retailer now offers over 250 products across these three value categories.
Core family staples are at the heart of this expansion, with items like beef mince and frozen sweetcorn now available at lower price points. M&S insists that despite the competitive pricing, the high quality its customers expect is maintained.
Shifting Perceptions and Ambitious Goals
According to data from YouGov, M&S's strategy is working. The perception of the retailer's value among families has improved by 10 percentage points over the past two years. M&S claims this makes it the fastest-growing grocer for family shoppers in the current market.
This aggressive move into the value sector is a key part of M&S's broader ambition to double the size of its food business. By directly competing on price with the so-called 'big six' supermarkets, while leveraging its reputation for quality, M&S hopes to capture a larger share of the weekly grocery shop.
A Strategic Price Change
The launch of these 30+ products represents a significant price change initiative for the high street stalwart. It signals a clear intent to compete head-on in a highly competitive market, where consumers are increasingly looking for ways to manage their food bills without compromising on quality.
With this expansion, M&S is not just adding more items to its shelves; it is strategically repositioning its food offering to become a more regular destination for British families doing their weekly shopping.
