Delhaize Group (DEG) has cut prices on more than 1,000 products to combat falling sales.
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The Belgian supermarket retailer hopes to win back customers in its troublesome home market, according to a report by Dow Jones newswires.
While the retailer is doing well in the US, where it reportedly does 70% of its business, sales are falling in its second-biggest market in Belgium – due to intense competition and a struggling economy.
Faced with aggressive price-cutting by French rival Carrefour SA and hard discounter Colruyt NV, Delhaize launched the campaign, on Wednesday (4 January 2006), aimed at turning around its own high-price image.
The company told Dow Jones it has expanded and fine-tuned its price-checking system, now comparing its own prices with those of competitors on a range of 6,000 products every week.
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