Iceland is poised to offer its customers aged over-60 a new discount on their shopping, as the cost-of-living crisis continues to squeeze wallets.
The supermarket chain will be offering eligible customers 10% off their shopping every Tuesday in a bid to support older shoppers who are struggling to cope with soaring prices.
From May 24, anyone aged 60 and over will be able to claim their offer in-store at branches of Iceland and The Food Warehouse.
In order to receive the discount they will need to show proof of their age, with a driving licence, senior bus pass, senior rail card or Freedom Pass.
The frozen foods retailer said there is no minimum spend to redeem the offer, which applies to all of its products and ranges.
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Richard Walker, Managing Director at Iceland, said: “We have a long history of supporting our over-60s customers, such as when we launched ‘Elderly Hour’ at the height of 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.”
Iceland said it decided to launch the offer after Age UK revealed three-quarters of over-65s in the UK (9.4 million) are worried about the rising cost of living, according to the charity's latest research.
The retailer has made the move as inflation hits a 40-year-high with energy bills soaring amid the spiralling cost of living crisis.
According to economic think tanks, the poorest households will be hit hardest by the rise in inflation because they spend more of their total budget on gas and electricity bills.
The Institute for Fiscal Studies said while inflation hit 9% in April, the rate experienced by the poorest household could be nearer 11%, while better off households will see their outgoings increase by around 7%.
Consumer Prices Index inflation, the rate at which prices are rising, rose to 9% in the year to April, up from an already high 7% in March, the Office for National Statistics said.
And around three quarters of the rise is accounted for by the 54% hike in the energy price cap which kicked at the start of April and was equivalent to a £700-a-year rise in the average household's energy bill, the ONS said.