Supermarket giants try to entice customers back

With food prices having soared out of control, in addition to the range of other hikes in bills and living costs, many people have been struggling to make ends meet when it comes to the household budget. Consumers have tried to make a range of cutbacks in order to try and make their money stretch further, and for many this has meant switching from the more expensive supermarket giants such as Tesco, Sainsbury’s, Asda, and Morrison’s, and turning to discount grocery stores such as Aldi, Netto, and Lidl.

More and more people have been turning to these discount stores in order to make their money stretch further, and the larger supermarket giants have recognised their trend and have started to put promotions into place to try and entice customers back. A number of the larger supermarkets such as Asda, Sainsbury’s, and Tesco have recently launched special promotions to lower costs for consumers and try and win back their custom, and industry officials state that this food price war between supermarkets could spell good news for cash strapped consumers.

An official from the National Consumer Council recently stated: “Whether these are headline-grabbing gimmicks or a longer-term trend, it is just too early to tell. We would urge retailers to keep offering healthier options at affordable prices. We also hope that concentrating on prices will not distract supermarkets from encouraging shoppers to make greener choices when filling their trolleys.”

Another industry official said that supermarkets now have to be competitive, stating: “In a competitive environment, they have to be aggressive in terms of pricing. If consumers have got less money in their pockets, they spend more money in discount supermarket groups. There is pressure on the major supermarket groups to compete with that.”

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Tags: price, recent additions, tesco, credit crunch, Asda, supermarkets