Large British chain reduces the price of organic products: up to a third of the cost is shaved off
Økologisk NuEcology has great potential and should be more accessible to customers. Therefore, the British department store chain Marks & Spencer (M&S) has invested over four million pounds - approximately 35 million DKK - in lowering prices on about 50 of the chain's most popular organic basic products. Price reductions typically amount to around 12%, but in several cases, the decrease is about 20%, and in one instance, up to 36%. For example, the price of organic wheat flour is reduced from 2.6 pounds (about 22.6 DKK) to 2.05 pounds (about 17.8 DKK). Honey-roasted granola drops from 5.2 pounds (45.2 DKK) to 4 pounds (34.8 DKK), minced lamb decreases from 7.5 pounds (65.2 DKK) to 6.4 pounds (55.7 DKK), and potatoes from 2.65 pounds (23.1 DKK) to 1.7 pounds (14.8 DKK). The goal is to double the chain's share of total UK organic sales. An analysis of the chain's customers has just shown that one-third of them say they buy more organic products now than five years ago. Expanding the range The lower prices are not only meant to make organic products more accessible to current customers but also to encourage customers who rarely or never buy organic to choose it more often. "Organic is a category with enormous potential. Therefore, we are investing over four million pounds to lower prices on more than 50 organic basic products and combine M&S's reliable quality with certified organic sourcing at a good price. This is yet another important step toward making M&S accessible to more customers and supporting our ambition to grow the food business," says Alex Freudmann, CEO of M&S Food, in a press release. So far this year, M&S has invested more than 30 million pounds, approximately 261 million DKK, in lowering everyday prices on a range of key basic products in the weekly shopping basket. In addition to lowering prices, M&S is expanding its overall range to meet more customer needs. This has included investments in larger food halls, designed as destinations in themselves, offering customers a broader selection. In the larger and newer food halls, M&S is also introducing zones with multiple temperature controls for organic products, so customers can find frozen, refrigerated, and pantry items all in one place. Marks & Spencer was founded in 1884 and now has stores in more than 60 countries.
Ecology has great potential and should be more accessible to customers. Therefore, the British department store chain Marks & Spencer (M&S) has invested over four million pounds - approximately 35 million DKK - in lowering prices on about 50 of the chain's most popular organic staple products.
Price reductions typically amount to around 12%, but in several cases, there are price drops of about 20%, and in one case, as much as 36%.
For example, the price of organic wheat flour is reduced from 2.6 pounds (approximately 22.6 DKK) to 2.05 pounds (approximately 17.8 DKK). Honey-roasted granola drops from 5.2 pounds (45.2 DKK) to 4 pounds (34.8 DKK), minced lamb decreases from 7.5 pounds (65.2 DKK) to 6.4 pounds (55.7 DKK), and potatoes from 2.65 pounds (23.1 DKK) to 1.7 pounds (14.8 DKK).
The goal is to double the chain's share of the total UK organic sales. An analysis of the chain's customers has just shown that one-third of them say they buy more organic products now than five years ago.
Expanding the range
The lower prices are not only meant to make organic products more accessible to current customers but also to encourage customers who rarely or never buy organic to choose it more often.
"Organic is a category with enormous potential. That’s why we are investing over four million pounds to lower prices on more than 50 organic staple products and combine M&S's reliable quality with certified organic sourcing at a good price. This is yet another important step toward making M&S accessible to more customers and supporting our ambition to grow the food business," says Alex Freudmann, CEO of M&S Food, in a press release.
So far this year, M&S has invested more than 30 million pounds, approximately 261 million DKK, in lowering everyday prices on a range of key staple products in the weekly shopping basket.
In addition to lowering prices, M&S is expanding its overall range to cover more of customers' needs. This has included investments in larger foodhalls, designed as destinations in themselves and offering customers a broader selection.
In the larger and newer foodhalls, M&S is also introducing zones with multiple temperature controls for the organic range, so customers can find frozen, chilled, and grocery items all in one place.
Marks & Spencer was founded in 1884 and now has stores in more than 60 countries.