M&S slashes prices of more than 50 products in battle against Waitrose

M&S has revealed it’s slashing the prices of more than 50 of its products as it steps up its battle against rival posh supermarket Waitrose. The retailer will cut prices on its organic fruit, vegetable, dairy and meat products, according to The Sunday Times. The reductions will amount to as much as £1.60 per item. It’s cut the price of organic white flour from £2.60 to £2.05, while green lentils will now cost £2.30 instead of £2.70. Sign up for the Money newsletter Thank you! Organic lamb mince has been slashed in price from £7.50 to £6.40. M&S is also planning to price match its rivals including Sainsbury’s and Waitrose. Read more on supermarkets Plus, some newer Foodhall stores will introduce dedicated “organic zones” where all the organic products will be. The changes will cost M&S a further £4million, after it already invested £30million in lowering food prices over the past year. M&S Food managing director Alex Freudmann told the Sunday Times that the company wanted to provide “more reasons to shop with us more often”, describing organic food as “a category with huge potential”. M&S and Waitrose have long battled to take the top spot as the UK’s best posh supermarket. Most read in Money Currently, M&S is slightly edging out Waitrose with a market share of 4.1% compared with 3.8%. Meanwhile Waitrose’s sales grew by 3.6% in the 12 weeks to July 11, while M&S saw its sales increase by 16.7%. But Waitrose has this week triggered a battle of luxury ready meals, revealing 29 new ready-made dishes. They include a wagyu beef, 12-month-aged Italian Parmigiano Reggiano cheese and six-hour slow-cooked brisket. Comment now