Grocery stores throughout the world are lowering their prices to remain competitive, as they are forced to choose between maintaining profits and losing market share to cheaper competitors.
For example, the supermarket retailer Aldi recently announced that it is decreasing the prices of more than 250 items in the United States.
Aldi U.S. Co-President Dave Rinaldo noted in a statement, “We don’t want high grocery prices to keep Americans from doing what they love this summer.” As a result, we’re taking the lead to advocate value in ways that only ALDI can.”
To prevent summer plans from being ruined, we’re lowering our already low prices on some of the most in-demand goods of the season.
While Aldi may be a business that particularly promotes low pricing as part of its value offer, prices are being reduced across the board, not just at cheap supermarkets. Sainsbury’s, a significant supermarket chain in the UK, announced price reductions for more than 40 private-label dairy items on Tuesday, May 30.
Sainsbury’s Food Commercial Director Rhian Bartlett said in a statement that “we will pass those savings to customers whenever we are paying less for the products we buy from our suppliers.” We’ve reduced the cost of over 40 own-brand items in supermarkets as we notice that the price of milk is starting to decline as a commodity.