Penny, Rewe Group’s discount chain, has launched its latest swathe of price cuts as Germany’s notoriously price-driven market sees competition intensify.
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The price push started yesterday (2 July) with an emphasis, a Rewe spokesman told just-food, on dairy lines.
“The campaign … comprises a lot of cheese and yoghurt products. As examples, the reduction rates we published are between 5% (for cheese slices) and 13% (for yoghurt),” the spokesman said.
“It is the latest in a series of price reductions this year. Up to now over 25% of Penny’s product range has seen permanent cuts.”
Yesterday, Rewe rival Edeka reaffirmed its plans to expand its discount business, with the opening of new stores and the integration of last year’s acquisition, Plus.
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By GlobalDataThe Rewe spokesman said competition in Germany’s discount sector had deepened amid the downturn.
“The stiff competition in the German discount segment is indeed hardening in the wake of the economic crisis. All major chains have lowered prices in several campaigns,” he said.
