Sainsbury's and Asda have announced details of price cuts as their rival Tesco prepares to unveil its turnaround plan.
Asda was first to confirm it was making £300m in customer savings during the first three months of the year, saying it was part of a previously announced £1bn drive to help it close the gap with hard discounters which have been eating away at the dominance of the 'Big Four' chains.
Asda, which reported its worst quarterly sales performance in nearly a decade in November, said the cost of 2,500 "essentials" would fall.
Sainsbury's later said it was to implement price cuts on 1,000 of its most popular products, costing it £150m, and customers would see more than 700 new regular prices in supermarkets this week.
Both chains, along with market leader Tesco and Morrisons, have seen customers drip away to the likes of Aldi and Lidl at the lower end of the price spectrum while Waitrose has captured some of the better off.
Asda's chief merchandising officer for food, Barry Williams, said: "After a great Christmas with the family, January is the month we all start looking at the size of our waists and our wallets.
"We're going further than ever before, rolling back those every day, can't live without items at a bigger percentage than we've ever been able to do previously.
"With hundreds of products at 50p, and even more at 15% less than normal, we're aiming to make a big difference for families in their weekly shop."
Sainsbury's chief executive Mike Coupe said: "We are investing £150m per year for the next three years in some of our customers' most popular purchases, with a total of 1,000 prices cut since we announced this investment in November.
"This will come as welcome news to customers who might be feeling the pinch after Christmas.
"These lower everyday prices are a part of our ongoing commitment to offering our customers great quality products at great prices."
The announcements were made less than 48-hours before Tesco's chief executive was expected to outline a recovery plan for its UK business.
While its supermarkets remain the dominant force in the grocery market, Tesco was slow to counter the discount threat and it has since lost further market value as a result of its £263m profits overstatement, which remains the subject of several investigations.
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