As recession fears stalk the world’s second-largest economy, Japanese supermarkets are looking to deep discounts to tempt shoppers.
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Supermarket operator Maruetsu Inc was the first to kick off the price war last week, cutting the price of food by 10-30% for as many as 3,000 items at 195 stores nationwide.
Aeon Co was quick to retaliate with its biggest discount campaign ever. Over 2,000 stores nationwide reduced prices by an average 20% on about 1,000 items.
Another major supermarket operator, Ito-Yokado Co, recently discounted beverages, imported items and other products by up to 50% and is considering a second round of price cuts.
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By GlobalData
