Hovis has rolled out a low-priced branded sliced white loaf targeted at consumers hit by the cost-of-living crisis.
The bakery said pricing for the 800g loaf is at the discretion of retailers and it is understood to be selling for £1.19 in its two stockists, Tesco and Booker.
Although lower than the £1.40 Tesco is selling regular Hovis sliced white loaves for, it is considerably higher than the 80p price tag on an own-label Tesco loaf. It is also only slightly cheaper than a Warburtons Toastie, currently Aldi Price Matched to £1.25 in Tesco. (Prices at 14 December 2022.)
Hovis told British Baker that it understands the importance of catering for the wide tastes and budgets of its consumers.
“As the outlook is hard for many at the moment, we have worked tirelessly to be able to offer a new opening price point loaf, delivering great taste at great value, so our consumers don’t have to compromise on either,” said the bakery.
The rollout of Hovis Simple White comes as bread prices continue to rise, with the average price of an 800g loaf of sliced white bread up 30p in the past year, from £1.06 in November 2021 to £1.36 last month [ONS data].
News of the launch comes less than two months after the appointment of Jon Jenkins, former boss of Kingsmill owner Allied Bakeries, as its new chief executive.
Taking up the role at the end October, Jenkins replaced Robert Higginson, who had been interim CEO since the departure of Nish Kankiwala in September.
A 15-year veteran of Associated British Foods (ABF), Jenkins spent seven years as managing director of ABF’s Twining’s tea business before spending four years as CEO of Allied Milling and Baking.