LONDON (ShareCast) - (Sharecast News) - Sainsbury's announced itself as the first major UK supermarket to match Aldi prices in its convenience stores on Monday, committing a £1bn price investment over the holiday season.

As part of the initiative, the FTSE 100 grocer said it would offer 'Aldi Price Match' on up to 200 essential products in its Local stores, covering staples such as milk, bread, butter, chicken, tuna, and various fresh produce items.

The firm said the move aligned with its strategy to enhance its convenience offering, which recently included an overhaul of store layouts and product ranges to improve the shopping experience.

It said it would introduce the prices in over 1,400 locations - both online and in physical stores.

The initiative replaced Sainsbury's former 'Pocket Friendly Prices' scheme, further streamlining its pricing model.

"Since setting out to put food back at the heart of our business four years ago, we've invested nearly £1bn in value," said chief executive officer Simon Roberts.

"Our 'Next Level Sainsbury's' strategy is about giving customers more of what they come to Sainsbury's for - outstanding value, unbeatable quality food and great service.

"In our Sainsbury's Locals, we've worked hard to offer market leading prices on essential items and popular breakfast, lunch and dinner staples."

Roberts noted that the company had also refreshed its Local store layouts and rebalanced space, increasing the number of products in store by 7% and adding more "food on the move" products - the "primary mission" of most convenience shoppers.

"With Christmas just around the corner, we know that every penny counts and we are committed to helping our customers make the most of the festive season."

At 1128 GMT, shares in J Sainsbury were up 1.51% at 268.8p.

Reporting by Josh White for Sharecast.com.

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