Posted Friday

B&Q invests £100m in new pricing strategy

By KBBDaily on 13th July 2018 - 12:59pm
money matters, kitchen, bathroom, b&q, kingfisher, pricing, investment, redundancy, job, kbb, kbbdaily

Kingfisher-owned B&Q has said it is investing more than £100m to deliver its ‘Do It For Less’ pricing strategy, designed to “make home improvement more affordable for all customers”.

The DIY chain said more than 2,000 products have been given new, lower prices as part of its new pricing strategy and marketing campaign. It added that it is “simplifying” it 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,” the company said.

B&Q added that its ‘Do It For Less’ price drops will be promoted on television as well as in the press, through in-store marketing and on social media. “Our mission is to help people create good homes,” said B&Q commercial director Paul White.

“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,” he added.

“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.”

In June, B&Q announced that it was restructuring its kitchen and bathroom service by “simplifying” the process as well as moving away from offering installation services to its customers, resulting in 700 jobs being at risk at the Kingfisher-owned DIY chain.

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