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Morrisons pins hopes on loyalty card Morrisons pins hopes on loyalty card
(about 1 hour later)
Morrisons has announced a new loyalty card scheme in an effort to seize back the initiative in the supermarket wars.Morrisons has announced a new loyalty card scheme in an effort to seize back the initiative in the supermarket wars.
The retailer says its Match & More card will award points equivalent to the difference in price on items that are cheaper in other supermarkets.The retailer says its Match & More card will award points equivalent to the difference in price on items that are cheaper in other supermarkets.
Morrisons said its scheme provided a price match guarantee against discount chains Aldi and Lidl, as well as Tesco, Sainsbury's and Asda.Morrisons said its scheme provided a price match guarantee against discount chains Aldi and Lidl, as well as Tesco, Sainsbury's and Asda.
Morrisons recently reported a fall in half-year profits of more than 30%.Morrisons recently reported a fall in half-year profits of more than 30%.
The chain, along with the other major supermarkets, is being squeezed between high-end and discount retailers.The chain, along with the other major supermarkets, is being squeezed between high-end and discount retailers.
In the 12 weeks to 14 September 2014, according to the latest figures from research firm Kantar Worldpanel, Morrisons had a share of 10.9% of the UK grocery market, down from 11.1% in the same period a year earlier.
Matching the discountersMatching the discounters
Chief executive Dalton Philips described Match & More as "the most comprehensive price match and points scheme in the UK".Chief executive Dalton Philips described Match & More as "the most comprehensive price match and points scheme in the UK".
He added: "Because it price matches the discounters, the Match & More card will provide the ultimate guarantee about Morrisons' value for money."He added: "Because it price matches the discounters, the Match & More card will provide the ultimate guarantee about Morrisons' value for money."
Under the scheme, Morrisons' prices will be checked electronically against a database of thousands of prices, as compiled by independent pricing experts Profitero.Under the scheme, Morrisons' prices will be checked electronically against a database of thousands of prices, as compiled by independent pricing experts Profitero.
Comparable products will be price-matched against those found on the shelves of the five rival chains.Comparable products will be price-matched against those found on the shelves of the five rival chains.
"If your comparable shop would have been cheaper elsewhere, we will give you the difference in points on your card," Morrisons said."If your comparable shop would have been cheaper elsewhere, we will give you the difference in points on your card," Morrisons said.
"For example, if Lidl is the cheapest and is 60 pence cheaper than Morrisons, then 600 points are added to your Match & More account.""For example, if Lidl is the cheapest and is 60 pence cheaper than Morrisons, then 600 points are added to your Match & More account."
Points will also be offered on hundreds of individual products throughout the shop, as well as petrol. Customers will receive a £5 voucher for every 5,000 points accumulated.Points will also be offered on hundreds of individual products throughout the shop, as well as petrol. Customers will receive a £5 voucher for every 5,000 points accumulated.
The scheme will be rolled out in stages across the UK starting on Friday. It will be nationwide before Christmas.The scheme will be rolled out in stages across the UK starting on Friday. It will be nationwide before Christmas.