Coles has started the new year by announcing that it plans to cut the prices of over 200 products over the coming three months.
Reductions of everyday items
The price cuts are expected to be implemented across various categories, with initial products to see reductions including ice cream, convenience items, deli products, drinks and pet food. Some products will see prices dropped as much as 36%, while others will see lower single digit reductions. Value is always high on the shopper agenda after Christmas, while the reductions will also be welcome news for many shoppers following a tough year in 2020. Coles will focus the investment on products that customers regularly buy.
More price cuts expected over the summer period
Price activity continues to be fierce in the Australian market, this is nothing new. However, with the peak summer period of trading overlapping with Christmas, as well as continued economic uncertainty caused by COVID-19, price will be a lever that the leading retailers will surely use more of in the coming months. Coles head of pricing and value Tim Lane, commented, "We’ll be adding further categories to the campaign throughout the summer period, to deliver even better value to customers every time they shop at Coles.”