Iceland Foods has started a wave of price cuts across its frozen lines, with 200 products either reduced or added to promotions under a new Frozen Pledge. The move comes as shoppers begin to see fresh deals on pizzas, ice cream, fish fillets and multibuy staples, with some offers running over the next couple of months.
The timing matters because Iceland’s prices rose 5.8% in April, the second-highest increase among supermarkets, according to reports. That put fresh scrutiny on a retailer that has built its reputation on value, even as the industry average price rise stood at 3.8% to 19 April.
Richard Walker said the figures were flawed, arguing they were distorted by very specific lamb deals in place last year and did not take into account new products or deals launched this year. He also described the Frozen Pledge as a huge commitment to both new and existing shoppers and said it was one of the company’s biggest-ever refreshes on deals, covering hundreds of frozen products across its stores.
The new pricing push includes a string of visible cuts. Snickers ice cream four-packs, which were £2.89, have been reduced, while Solero Strawberry Twists are 75p cheaper for three and five-packs of Calippo Strawberry Minis have come down from £2.75. From 28 July, three-packs of Magnum Almond, Mint and Salted Caramel variants will fall from £3.50 to £2, Chicago Town Tiger Crust Pepperoni Pizza has dropped from £4 to £2, Young’s Chip Shop XL Battered Fish Fillets are now £2.25 from £4.50, and McCain Smiles have been cut from £2.50 to £1.25.
Iceland has also added nine more own-label pizza products to its £1 Pizza Cabinet and extended its 10 for £10 multibuy deal on Birds Eye peas, Richmond Sausages and Aunt Bessie’s Chips. That offer was due to end on 23 June but will now run until at least 6 July, while the supermarket said it is rolling out new cuts, extending multibuys and adding more products to its promotions cycle over the next couple of months.
The friction is hard to miss: Iceland is cutting prices now after a month in which its own inflation rate outpaced most rivals. Walker’s response suggests the company wants to reset the conversation quickly, but the open question is how far these new deals will offset that 5.8% April rise for shoppers at the till.
