The continuous increase in food prices due to the ongoing cost of living crisis has become a common concern for consumers. Walking into supermarkets and noticing the rising prices of everyday products can be disheartening for many. To combat the cost, some individuals have opted for supermarket-owned basic ranges over branded items, seeking affordability.
Despite the expectation of relatively lower prices at certain retailers, a recent visit to Marks & Spencer revealed surprising costs even for essential items. While M&S is known for its upscale image, consumers have come to expect reasonable prices for certain goods.
For instance, the M&S Classic Mayonnaise priced at £1.50 for a 500ml tub, appears only slightly higher than Sainsbury’s Thick & Creamy offering at 99p for the same size and Tesco Mayonnaise priced at 95p per tub.
Yet, a new product introduction, the Olive Oil Mayonnaise under the Only… Ingredients range, raised eyebrows due to its significant price difference. Priced at £4.50 for a 250g tub, this product highlighted a substantial increase compared to the Classic Mayonnaise.
The Olive Oil Mayonnaise boasts a simple ingredient list of just six items, emphasizing the use of olive oil for a rich flavor profile. Despite the fewer components, the product’s cost remains notably high.
The escalating price of olive oil globally has contributed to the steep increase in related products. While understanding the impact of olive oil costs on final prices, consumers find the six-fold price difference between the two mayonnaise variants quite unreasonable.
Fortunately, most items within the Only… Ingredients range do not exhibit such drastic pricing disparities. Other products like the M&S Only 6 Ingredients 6 Heritage Gold Pork Sausages priced at £4 for a pack of six and the M&S Only 5 Ingredients 4 White Rolls at £2 per pack show more reasonable pricing structures.
While appreciating the concept behind the M&S Only… Ingredients range for simplifying food products, the significant price differences raise concerns about affordability for consumers.
The outlier status of the Olive Oil Mayonnaise in terms of pricing suggests a need for market adjustments to maintain consumer interest and affordability within the range.
Queries have been directed to M&S for comments on the pricing strategies.
The surge in olive oil prices in British supermarkets stems from various global issues affecting the industry, leading to notable price hikes observed by consumers.
1. Decreased supply due to adverse weather conditions