The famous retailer aims to match the price of Lidl and Aldi to keep their consumers from looking for better offer
Morrisons has joined the price war to keep up with Lidl and Aldi through the latest loyalty program that will keep their customers from going to other brands.
"The transfers of consumers from one brand to another are apparent and so we are reacting to it through this new offer," as the brand's CEO explained.
Majority of the customers of Morrisons have been hopping from our brand to others trying to find the best deal.
The organization is the first to react on the slump of the retailers and came up with this loyalty scheme to match up the prices of Aldi and Lidl. According to analysts, the program can be costly for the company.
"We are trying to balance the price so that our other promos will be noticed by our shoppers. The markdown have been very attractive but only has one factor-low price. We are trying to emphasize that shoppers can enjoy low price but also benefit even more in almost all our items," the officer said.
The company is still mum about the projected cost for the new program. But so far, it has spent quite a sum of money for lowering the prices.
The new scheme will run all over the stores. For shoppers that will spend a certain amount, they get certain number of points. And when they reach the specified target of points, they will be given vouchers. The scheme was tested last April.
The program will definitely lead to price comparison to other competitors. The markdown price of items with own label will be based on Morrisons' itself and not on M Savers. This will give more justice to the setting and matching up the prices.
