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The supermarket launched its 'unbeatable prices' commitment, pledging that it will not be beaten on price
A major supermarket has vowed to beat Tesco, Aldi and Lidl on prices for more than 500 everyday essentials as it steps up the battle for shoppers.
Morrisons says customers will now pay the same or less for hundreds of weekly staples than they would at five of Britain's biggest supermarket rivals.
The supermarket has launched its new "unbeatable prices" commitment, covering more than 500 products and comparing prices against Asda, Tesco, Sainsbury's, Aldi and Lidl.
Under the pledge, Morrisons says the selected products will either match or undercut the price offered by all five competitors.
The move marks a major expansion of the supermarket's efforts to compete on price as it looks to win back shoppers following a decline in its share of the UK grocery market.
Worldpanel data for the 12 weeks to August placed Morrisons as Britain's sixth-largest supermarket group, with an 8.5 per cent share of the market.
The Bradford-based retailer has recently been overtaken by Lidl and now sits behind Tesco, Sainsbury's, Asda, Aldi and the German discounter.
Morrisons operates around 500 supermarkets and 1,700 convenience stores across the UK, with the private equity-backed retailer hoping its latest price push can help reverse its recent loss of market share.
The "unbeatable prices" initiative builds on a price-matching scheme first introduced two years ago, which targeted hundreds of products sold by the German discounters Aldi and Lidl.
The guarantee covers fresh produce such as bananas, tomatoes and carrots.
It also offers cupboard staples including bread, butter and chicken fillets.
The supermarket has pledged to extend it to fresh lines sold at Morrisons' Market Street counters, including its fishmongers and bakeries.
Alex Paver, customer and marketing director at Morrisons, said: "Customers shouldn't have to choose between great prices and great quality and at Morrisons, they don't have to."
He added: "And uniquely at Morrisons, that unbeatable value comes alongside the quality, freshness and expert service we're famous for from bread baked fresh in store to food prepared by our skilled Market Street colleagues."
Morrisons' aggressive pricing push arrives against a backdrop of significant internal restructuring.
Accounts published just days ago revealed that the grocer cut nearly 5,000 positions last year as part of a wider effort to stabilise its finances and improve performance.
The supermarket, which was acquired by private equity, has been under sustained pressure to demonstrate a credible turnaround strategy amid fierce competition from both the established big four grocers and the rapidly expanding German discounters.
Mr Paver also said: "Our unbeatable price commitment means customers can trust that the prices on these products simply won't be beaten by Asda, Tesco, Sainsbury's, Aldi or Lidl."
