Sainsbury’s will be holding its nerve and sticking to its plans, rather than slashing prices as Christmas sales look gloomy, its commercial director has said.
Unveiling Sainsbury’s Christmas range, Mike Coupe said he was confident people would invest in a great family occasion.
His comments came after a survey showed British retail sales fell at their fastest pace for two and a half years In November.
Several chains have already started cutting their prices including Tesco, which announced further reductions as part of its Christmas Price Drop.
But Coupe said Sainsbury’s would be sticking to its guns.
"You're far better holding your nerve and sticking to what you have planned," he said.
He added last-minute spending was likely to be exacerbated this year due to Christmas Day falling on a Sunday.
