B&Q Announce £100m Investment in Price Reductions

B&Q  have today announced  it's investing over £100 million across the business to deliver their “Do It For Less” (Every Day Low Price) pricing strategy that helps make home improvement more affordable for all customers. Over 2,000 new low prices have now been introduced in “Do It For Less” price drops, with an average saving of 15% on these products. 

Quality and value will now go firmly hand in hand at B&Q, with customers given the opportunity to buy great quality products at consistently low price points. The 2,000 “Do It For Less” price drops include the following products. More reductions are set to come later in the year:  

• Bosch PSB 1800 LI-2 Combi Drill with 2x2.0 Ah batteries, now 8% cheaper
• Cimenti wall and floor tiles (20 pack, 30x30), now 17% cheaper
• Flymo 1300w Hovervac 280 mower, now 17% cheaper
• Dolce High Gloss Laminate Flooring, now 12% cheaper
• Arlington wall and floor tile (6 pack), now 13% cheaper
• Karcher K5 Premium Full control plus, now 11% cheaper
• Cuprinol Dustback Forest Green 5 L, now 29% cheaper
• Verve Hosecart starter set 25m, now 22% cheaper
• After cut all in one spreader, now 17% cheaper
• Dulux Weathershield Concrete Grey Smooth Masonry Paint 5L, now 5% cheaper 
• Brindisie White Satin Ceramic Wall Tile (12 pack), now 25% cheaper
• Mapi flexible wall and floor grey grout 2.5kg, now 26% cheaper
• Mapi Fast Set Tile Adhesive 20kg, now 25% cheaper 
• Bosch PMF 220CE Multitool, now 23% cheaper
• Ron Deck Oil Ultimate, Natural 5L, now 8% cheaper
• Cuprinol garden shades, matt wood, urban slate, now 32% cheaper
• B&Q 450W Hedge Trimmer, now 14% cheaper
• Verve Organic Lawn Fertilizer 200m2, now 14% cheaper 

B&Q is simplifying its prices to ensure they are clear, transparent and trusted. This means reducing the use of short-term pricing deals and discounts, including multi buys and reviewing loyalty scheme benefits, to enable investment in stable, low prices for the benefit of all customers.

B&Q’s mission for simple and stable, low prices means that customers can enjoy competitively priced products any day of the week, any time of year. This means they can shop and improve their homes at times that suit them, rather than having to wait until sales roll around.

B&Q has followed this simplified pricing strategy for kitchens since September 2014, when it successfully moved away from a promotional pricing strategy which made it difficult for customers to know if they are getting the best possible price. The use of promotional pricing strategies is still maintained by many kitchen retail competitors.

In addition, B&Q has the advantage of being a part of the Kingfisher Group and the economies of scale brought about by the ONE Kingfisher transformation.  Just over two years ago, Kingfisher brought together the buying functions across the Group and is well on the way to delivering ranges of Unique and Unified products to B&Q and all other Kingfisher operating companies. A key benefit of the Unified buying programme is being able to price our products competitively and we are passing this on to our customers.
From 15 July, B&Q’s second wave of “Do It For Less” price drops will be promoted on TV, in press, digital and social media as well as in store marketing.

Paul White, Commercial Director, B&Q, commented: “Our mission is to help people create good homes. To do that we need to make home improvement projects affordable all year round, and our 2,000 price drops and stable low prices across all of our ranges help do just that. 

“People may enjoy hunting for the best deal, but at the end of the day there is much more comfort knowing that there’s one place where you can always get a low price. All customers want to have prices they can trust, and as industry leaders it’s our responsibility to look after their best interests by ensuring our customers get our most competitive price.

“We moved to everyday low prices in our kitchen range nearly four years ago and with our investment of over £100 million in our “Do It For Less” pricing strategy, we’re extending the clarity and transparency of that across many more of our products. This means customers can feel confident in the knowledge that they will always enjoy competitively priced products at B&Q.”

Source: Insight DIY Team & B&Q Press Release.

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