French retail giant Carrefour has unveiled plans to cut the price of 10,000 items sold at its outlets in Spain by as much as 25%.
The price cuts, which Carrefour describes as “permanent”, will be applied across the group’s own-label and branded business.
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Reductions will be implemented at a local level with the aim of ensuring Carrefour is the cheapest retailer in any given catchment area.
“In this way savings are focused on the products that consumers in any one area care most about,” a spokesperson for the company told just-food.
The savings will be delivered in “cooperation” with suppliers, the spokesperson said.
“We are working with our suppliers to grow sales and reduce costs to the customer. We are investing in our price proposition,” the spokesperson said. “Yes, suppliers may be asked to reduce prices, but volumes are expected to grow.”
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By GlobalDataCarrefour declined to comment on whether the move was likely to impact profit margins. However, the spokesperson was quick to emphasise that the group is looking to generate operational savings and drive efficiencies at its Spanish operations.
