CINCINNATI, OH – As retailers navigate the tight quarters of the buy-side sector, Kroger is the latest name to look towards lowered prices to enamor more consumer hearts. The chain announced that its Columbus, OH, and Louisville, KY, divisions will be dropping prices across thousands of items in their stores.
“We know this is a competitive time for retail, and we want to make sure we are positioned right on price,” said Jennifer Jarrell, Kroger Media & Government Relations Manager, according to The Columbus Dispatch.
Prices will drop on more than 2,000 products in Columbus stores, including those that may already be on sale. While these cuts are mostly to Kroger’s private label items, sources are reporting that the price slashes extend to produce and other departments as well.
Louisville Business First reported that for Kroger’s Lousville division, the retailer will invest millions of dollars into reducing prices in its 94 stores. The retailer had already slashed more than 3,000 items in its stores, marking the largest one-year pricing investment in the division’s history.
"Price continues to be an important factor as customers decide where to shop,” Tim McGurk, Regional Director, Corporate Affairs said, according to Louisville Business. "Now our customers are going to save even more on the items they purchase every week."
Several analysts speculated to the Dispatch that this move comes ahead of Lidl’s entrance into American markets, with Aldi’s current presence as well. However, as the buy-side may be tightening, Kroger remains a contender.
As Kroger continues to carve out its place amongst consumers, will more divisions follow suit in its price slashing strategy? AndNowUKnow will keep you apprised.
