Waitrose is launching a “bold” new campaign to communicate the sweeping price cuts being made across its own-brand value range, as the premium grocer looks to boost its value credentials amid the cost of living crisis.
The business is investing £100m to reduce the price of over 300 products, equating to nearly a third of the ‘Essential Waitrose’ range. Prices will be reduced by 14% on average across everyday basics such as carrots, tea and sausages. Nearly a quarter of price cuts will reach 20% or higher.
Ads created by adam&eveDDB will launch on TV today (15 February), as well as on Waitrose’s owned channels and throughout its 331 shops. Supporting activity will run on radio, out of home, social channels and in print media, with media planning by Manning Gottlieb OMD.
The campaign is the first under the direction of customer director Nathan Ansell, who joined the business in January. Ansell previously spent nine years at Marks & Spencer, latterly as marketing director of its clothing and homewares business.
Ansell says: “Our customers shop with us for what they value most: great tasting food, excellent service, unparalleled animal welfare and because we pay British farmers a fair price. I’m delighted that our customers will now be able to enjoy all this and now at new lower prices.
“Our campaign is bold, impactful and engaging. We want everyone to know that Waitrose is the best place to shop for outstanding quality, ethics and value, ” he adds. John Lewis Partnership to review ad strategy with search for new creative agency
In September Waitrose repositioned its brand under a new brand expression, ‘Food to Feel Good About’, after reporting a 5% drop in sales over the first half of its financial year. A launch campaign prominently featured the Essential range, while highlighting the quality, taste, ethics and value of Waitrose produce. The retailer had rolled out its first ever standalone campaign for the range only a few months earlier.
There are over 900 products in the Essential range, which is bought by nearly 70% of Waitrose’s customers, the grocer claims. On average customers buy more than four Essential items each time they shop.
Waitrose isn’t the first supermarket to invest in providing customers with better value as prices across the UK continue to rise. M&S, another premium-end grocer, has doubled down on its Remarksable value range over the past year, while in December Sainsbury’s announced plans to invest a further £50m into lowering prices.
New data from the Office for National Statistics (ONS) shows UK inflation slowed faster than expected in January, with prices rising at an annual rate of 10.1%. Economists had expected to see a rate of 10.3%, after a 10.5% reading in December.
The news follows the decision by John Lewis Partnership, which includes both Waitrose and retailer John Lewis, to launch a review of its advertising strategy. Last week the business initiated a creative agency pitch process, which brought its relationship with incumbent adam&eveDDB to an end after 14 years. Adam&eveDDB won the Waitrose account eight years ago, six years after winning John Lewis as a client.