GB: Morrisons cuts product prices again to help customers – How is the brand doing?
Amid the cost-of-living crisis, chain supermarket brand Morrisons is cutting its in-store product prices for the second time this month. Morrisons had previously cut its prices in early January of over 100 products to help customers make it through the January squeeze.
How has Morrisons fared among customers since its initial price-cutting initiative?
According to YouGov BrandIndex - which tracks consumer sentiments towards thousands of brands daily - Morrisons’ performance improved in the days following the price cuts.
The brand’s Satisfaction score - which measures customers’ satisfaction with a brand - was at 26 on 3 January 2023, when the first round of price cuts began. In the days ahead, the score climbed to a net score of 38 on 7 January before coming down to 27 on 26 January.
The Bradford-based brand’s Value score, which measures whether customers think the brand offers good value for money, has also moved upward since the price cuts. The score improved from a net score of 13 on 3 January to a net score of 23 on 12 January. The latest data shows the brand’s value with a net score of 19 as of 26 January.
Morrisons’ Consideration score - which represents the percentage of people who would consider this brand the next time they are in the market to purchase groceries - gained towards the end of the month. The score, which was at 29 on 3 January, reached 31 on 26 January.
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Methodology: YouGov BrandIndex collects data on thousands of brands every day. Morrisons’ Value score is based on the question: “Which of the following supermarkets do you think represents good value for money? By that we don't mean "cheap," but that the brands offer a customer a lot in return for the price paid. / Now which of the following supermarkets do you think represents poor value for money? By that we don't mean "expensive," but that the brands do not offer a customer much in return for the price paid." And delivered as a net score between -100 and +100.
Morrisons’ Satisfaction score is based on the question: "Of which of the following supermarkets would you say that you are a "satisfied customer"? / Of which of the following supermarkets would you say that you are a "dissatisfied customer"?" And delivered as a net score between -100 and +100.
Morrisons’ Recommend score is based on the question: "Which of the following supermarkets would you recommend to a friend or colleague? / And which of the following supermarkets would you tell a friend or colleague to avoid?" And delivered as a net score between -100 and +100.
Morrisons’ Consideration score is based on the question: "When you are in the market next to purchase groceries, from which of the following would you consider purchasing?" And delivered as a percentage. Scores are based on an average daily sample size of 210 Great Britain-based adults between 1 January 2023 and 26 January 2023. Figures are based on a 3-day moving average. Learn more about BrandIndex.
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