Dutch retailer Albert Heijn has raised the stakes in the country’s vicious price war by announcing plans to cut the prices of some products by as much as 25%.
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Some 1000 products will have their prices slashed by between 5% and 25%, the company said late last week. A year ago the company launched the first round of price cuts since it was founded 116 years ago, reported Reuters.
Albert Heijn has been coming under pressure from discount retailers such as Lidl and Aldi and, like many other long-established supermarkets across Europe, has been forced to offer prices closer to those available at rival hard discount outlets.
The company’s reputation has also suffered by association with the accounting scandal which beset its parent company Ahold. It is reported that some customers were also prompted to boycott Albert Heijn when it emerged that Ahold’s new CEO was being awarded a multi-million euro pay deal.
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By GlobalData
