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The magazine, which also celebrates its 80th birthday in October, will feature new-look fashion, food and beauty content and twice as many real-life stories from tomorrow's issue (4 September).

TV presenter Lorraine Kelly will join the magazine as a columnist and will give readers a snapshot of her world every week.

For the first week on sale, the cover price will be reduced from 93p to 60p.

The price promotion will support the refresh and encourage trial of the new look magazine. An in-magazine token collect scheme will reward customer loyalty, and readers buying copies in four consecutive weeks will be entered into a prize draw to win an iPad3.

Catherine Westwood, who joined Woman's Own as editor in April, said: "Woman's Own is a fantastic brand that we have sought to refine rather than revolutionise. It now mirrors the lives of readers even more closely, and keeps at its heart their key interests in getting value for money and sound advice. We have created a package that's not only an uplifting treat, but is also useful and helps them juggle their busy lives."

The new website will launch at www.womansown.co.uk tomorrow and will include content from Woman’s Own experts and daily money-saving offers, alongside celebrity, fashion and beauty news, diets and recipes. Woman's Own's online presence was previously part of IPC's portal .

The website will be mobile optimised and will incorporate social media throughout, allowing users to engage with the brand and each other. Content will be created by the Woman’s Own editorial team.

Roger Cummings, publishing director at Woman’s Own, said: "We know our readers love engaging with its content and experts – both in print and through social media – and the new developments make Woman's Own an even more essential read, offering 24/7 access to expertise, opinion and advice through its increased digital presence."

The brand will continue to be a key player within IPC’s wider Generation Y-Not initiative, which focuses on the 40-plus female audience.

The latest set of magazine circulation figures showed Woman’s Own's average issue circulation was 232,107 during the period January to June this year. This is down 5.6% year on year and down 32.7% over five years.