Iceland to launch over-60s discount to help with cost of living crisis

Iceland is launching a special discount for over-60s to support older customers through the cost of living crisis.

People in this age bracket will be entitled to 10% off their shop every Tuesday from May 24.

Shoppers will need to show proof of age, such as a driving license or senior bus or rail pass, and the discount will cover all products with no minimum spend.

The offer comes as supermarkets battle for customers, with food prices rising at their fastest rate in 40 years.

Iceland said it decided to target support to over-60s after Age UK revealed that three-quarters of older people in the UK (9.4 million) are worried about the rising cost of living.

It said it is the first UK supermarket to introduce such an offer.

Last Christmas, Iceland also ran a regional trial offering £30 vouchers to those receiving state pension, and the company said it was now exploring a national rollout ready for this summer.

Richard Walker, managing director at Iceland, said the chain had a ‘long history’ of supporting older customers, including offering dedicated shopping hours for elderly and vulnerable people during the pandemic.

‘The cost of living crisis has made support for these customers even more important, which is why I’m proud that we’re finding new ways to support them, including the launch of this discount.

‘We hope it will help all those in this age category to cut costs where they can,’ he said.

The offer comes after money saving expert Marin Lewis warned there could be ‘riots’ over rising food prices if more isn’t done to help ‘angry’ and ‘desperate’ people;

Inflation – the rate at which prices rise – jumped to 9% in the 12 months to April – the highest it has been since 1982.

The surge was driven by higher electricity and gas bills, after millions of people were hit with an unprecedented £700-a-year increase in energy costs last month.

This has been compounded by rising fuel and food costs, with the average shopping bill expected to increase by £271 this year.

A series of supply shocks, from Brexit and the energy crisis to the war in Ukraine, has contributed to rising costs.

Many supermarkets have cut their prices to compete, with Asda bringing out a budget range called ‘Just Essentials’ this month.

Meanwhile, last month Morrisons said it would offer an average 13% price cut on more than 500 goods and Sainsbury’s said it would lowering the prices of 150 of its most popular products, despite facing higher supply costs.

However, the governor of the Bank of England, Andrew Bailey, said this week that there was ‘not a lot we can do’ about the cost of living crisis as he braced people for further ‘apocalyptic’ food prices in the coming months.

Chancellor Rishi Sunak also admitted today that the next few months ‘will be tough’.

The government has come under fire for failing to help struggling families after voting down a windfall tax and emergency budget this week.

Mr Sunak told the Confederation of British Industry he was ‘ready to do more’ to help households – but stopped short of actually announcing any new measures.

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