A BARGAIN supermarket has announced huge price cuts this January as it follows in the footsteps of rivals Asda and Morrisons.
Supermarkets have signalled the start of a pricing war as they compete for customers looking to save cash after the festive season.
Iceland’s bid to attract cash-strapped shoppers has seen it launch its biggest ever Mega Deals event.
The promotion includes the return of its 10 for £10 deal across frozen favourites and its five for £5 deal on lunchbox snacks.
The 10 for £10 deal includes a range of tea time staples including Birds Eye crispy chicken dippers, potato Alphabites, Young’s fishcakes and Chicago Town pizzas.
The frozen food specialist has also increased the number of products in its £1 or less value range to more than 1,000 and introduced a buy two get one free deal on a huge range of essentials.
The supermarket’s value ranges now include household essentials as well as groceries and health and beauty items.
Iceland Foods’ executive chairman Richard Walker said: “We know families are looking to reduce spending in all aspects of everyday life and we know we need to do our bit to help.
“January will be a struggle for millions, it’s no secret that bills are going to rise and it’s going to hit some families extremely hard. That’s why we’re stepping up, expanding our £1 or less lines and introducing hundreds of deals. We’re here to help this January.”
The move follows Asda’s announcement that it had slashed the prices of thousands of household staples and best-selling products.
The supermarket’s Big Jan Price Drop will apply to products including sausages, dishwasher tablets and laundry detergent.
Asda’s scheme covers more than 2,560 household staples and makes the items 26% cheaper on average.
[bc_video account_id=”5067014667001″ application_id=”” aspect_ratio=”16:9″ autoplay=”” caption=”How to find the best bargains at the supermarket” embed=”in-page” experience_id=”” height=”100%” language_detection=”” max_height=”360px” max_width=”640px” min_width=”0px” mute=”” padding_top=”56%” picture_in_picture=”” player_id=”default” playlist_id=”” playsinline=”” sizing=”responsive” video_id=”6347316490112″ video_ids=”” width=”640px”]Morrisons also started the year by slashing prices on 100 essentials to match Aldi and Lidl.
Morrisons has announced it will price match Aldi and Lidl on everyday items and best-sellers in a new year boost for shoppers.
The grocery chain’s price match promise applies to products like olive oil, coffee, eggs, single cream and pasta sauce.
The move expands the scheme to cover more than 500 products, with the new additions joining existing offers on items including bananas, potatoes, broccoli and onions.
[authenticated-scripts src=”%3Cscript%20class%3D%22palin-poll%22%20src%3D%22https%3A%2F%2Fwww.thesun.co.uk%2Fpollingwidgets%2Fv3%2Fwidget.js%3Fquestion_id%3D101732%26game%3Dpolling%22%3E%3C%2Fscript%3E” type=”embedded” width=”100″ /]Major supermarkets have increasingly been price-matching products in order to avoid losing customers as the cost-of-living crisis drives them to cheaper rivals.
Sainsbury’s price matches 500 of its own-label and branded products to Aldi in its bigger stores.
Meanwhile, Tesco has price-matched more than 500 products to Aldi.
Despite these new year price cuts retailers have warned shoppers to expect price increases when the chancellors tax hikes come into effect in April.
Other news from supermarket Iceland has included the closure of two stores this weekend, with sites in Borehamwood and Exeter, shutting their doors.
But it is not all bad news for Iceland shoppers as the supermarket is on the hunt for up to 250 locations.