M&S puts £30million into price cuts on over 65 food lines, from salmon to eggs

Marks & Spencer has put more than £30million into cutting prices on over 65 food lines, according to the Daily Mirror. The retailer says the move will help stretched household budgets. The cuts cover everyday items in fresh and frozen food, from salmon, eggs and beef mince to chips, ketchup, cream cheese and peanut butter.

A few household basics are on the list too, including Spring Meadows kitchen roll and toilet rolls. The cuts come as supermarkets compete harder on price, with the cost of living squeeze pushing many families to look for savings wherever they can. The Mirror notes that food price inflation and the rising cost of the weekly shop are among the bills households say they notice most.

Many shoppers have long treated M&S as a place for a treat rather than for the weekly shop. This round of cuts is clearly meant to change that. A closer look at the full list shows that some reductions are generous, while others take only a few pence off.

How the two M&S price ranges work

The cuts are split across two ranges. Remarksable Value is what M&S calls a core range of weekly staples, with prices the retailer says are benchmarked against rivals. Dropped & Locked is a wider selection of products that have also been reduced. The reports we have seen do not say how long the Dropped & Locked prices will be held.

M&S also took a swipe at its competitors. It claimed that, unlike other value ranges, its offer was not about selling “‘entry tier’ food with reduced quality to make it cheaper”. That is the company's own claim, and shoppers will reach their own view at the checkout.

Alex Freudmann, managing director of M&S Food, said the reductions on “key family favourites like salmon, eggs and veg” were part of a commitment to help customers “eat great tasting food every day, without compromise”. He called the move “another step on our transformation journey as we reinvest for growth”. That wording makes plain that winning more of the grocery market is the business goal behind the cuts.

Which shoppers gain most from the new prices

Salmon buyers get some of the biggest cuts. A single 120g Caledonian Gold Salmon Fillet falls from £3.50 to £2.75, and a 500g Caledonian Gold Salmon Joint drops from £13 to £10.25. A 600g pack of Lightly Smoked Caledonian Gold Salmon Fillets goes from £19 to £16.

Some cheaper basics are cut as well. A 6 pack of Free Range Mixed Size Eggs falls from £1.50 to £1.30, and 1kg of Frozen French Fries drops from £1.95 to £1.70. Made Without Lactose Free milk, both whole and semi-skimmed, falls from £1.90 to £1.35 for 1ltr. Korma, Tikka Masala, Rogan Josh and Balti sauces each fall from £2.20 to £1.75.

Not every reduction is large. Tomato Ketchup goes from £1 to 95p, packs of Eight Tortilla Wraps fall from £1.50 to £1.45, and Salted Dairy Butter moves from £3.90 to £3.80. How much any household saves will depend on how many of these lines it already buys and whether it has an M&S food store nearby.

Key numbers

• £30million: the amount M&S says it has put into this round of price cuts.
• 65: the number of food lines that have been cut, according to the Mirror, which says the total is over this figure.
• 7%: the rise in M&S food sales, to £9.7billion, in the year to the end of March last year.
• 9.6%: the fall in profits from the food side of the business, which dropped to £444million over the same year.
• 4.1%: the grocery market share M&S says it reached after gaining more customers.
• 380: the number of food stores M&S plans to have by 2027/28.

What happens next for M&S food

The Mirror reports the new prices as already in place, so shoppers do not have to wait for them. M&S has not said publicly, in the reports we have seen, whether or when any of the prices might go back up. Its long-term aim is to double its food sales, helped by new stores. Twelve new food branches opened last year, including three conversions of former Homebase stores.

Food profits fell 9.6% even as sales grew, so the company is spending money on prices at a time when profits from food are already under pressure. M&S describes this as reinvesting for growth. Whether the cuts stay in place will probably depend on whether they bring in enough extra shoppers.

What you can do now

Before your next shop, compare the list above with the things you buy every week. The biggest savings are on salmon, curry sauces, cream cheese and spinach, while items such as wraps and butter have come down only slightly. Check the price per kilo or per litre on the shelf label against other supermarkets before deciding where to shop.

Watch for the Remarksable Value and Dropped & Locked labels in store. If you buy salmon or curry sauces regularly, those lines may be worth comparing first because the cuts there are among the largest.

If food bills are becoming hard to manage whatever the price cuts, your local council may be able to help with essential costs. In England this help is called the Crisis and Resilience Fund. The Scottish Welfare Fund and the Discretionary Assistance Fund in Wales do the same job. Government guidance says you do not have to be getting benefits to get this help.

Your questions answered

Are the cheaper M&S products lower quality?

M&S says not. It claims that, unlike other value ranges, its cuts are not about selling “entry tier” food with reduced quality to make it cheaper. That is the retailer's own description, and no independent comparison was included in the reports.

How long will the lower prices last?

M&S has not said, in the reports we have seen. The Remarksable Value range is described as benchmarked against rivals' prices, but no end date or price guarantee has been published for either range.

Why is M&S cutting prices now?

The Mirror links the move to tougher price competition between grocers and to the cost of living squeeze on households. M&S itself says the cuts are part of plans to double the size of its food business and to reinvest for growth.