Australian supermarket group Coles has unveiled a fresh round of price cuts as part of its Down Down campaign.
The move, which places further emphasis on price in the highly competitive Australian market, comes as Coles looks to win market share from its larger competitor Woolworths ltd and build sales of its higher-margin own brand products.
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The company said yesterday (9 January) that it will be reducing the price of “more than 100” grocery items in the “biggest round” of price cuts since its Drive Down campaign began.
Coles will be reducing the price of own label everyday products such as bread, chilled fruit juice, dairy spreads and cheeses, frozen foods and cooking oils.
The company said that the move follows Coles-sponsored research highlighting that 65% of families are looking to make “more savings” in their household budget in 2013 than 2012.
“Customers have told us that they expect 2013 to be a tough year for family finances and that’s why we have acted early to help them save,” Coles merchandise director John Durkan said.
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By GlobalData
