Morrisons has enhanced its loyalty card by slashing the price of 2,000 online and in-store products as it tried to recover market share.
Aldi and Lidl price match schemes are being enhanced with another 70 products while Low Everyday Price commitment will continue for non-loyalty card customers.
Alex Rogerson, group marketing director at Morrisons, said: “Today’s move represents our single biggest investment in loyalty and pricing for many years.
“Driving strong value for customers remains our number one priority and today we are getting the big bazooka out and slashing the prices on over 2,000 products for More Card customers.
“Together with our Aldi and Lidl Price Match and our vast range of Low Everyday Prices – we have thousands of products that not only offer outstanding value on brands and essential items our customers love – but also have the quality they’ve come to expect from us.”
Private equity-owned Morrisons saw its market share in the 12 weeks to 13 July slip from 8.5% to 8.4%.
Market leaders J Sainsbury PLC (LSE:SBRY) and Tesco PLC (LSE:TSCO) have shares of 15.3% and 27.6% respectively.