Giant Eagle steps up price competition
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As competition for grocery spending continues to intensify, O'Hara grocer Giant Eagle today announced it plans to lower prices on more than 3,000 popular items by an average of 15 percent.
The promotion, which follows earlier low-price-lock offers that began in October, offers another indication of how important the perception of value is in the uncertain economy to retailers trying to keep customers.
Wal-Mart and Giant Eagle have been battling it out in ads where each compares receipts to prove that the other retailer doesn't offer better deals. And both face competition from stores like Bottom Dollar Food, Aldi, Target and Trader Joe's, along with dollar stores and drugstores.
Giant Eagle's new price cuts will not replace other established offers, such as double coupons up to 99 cents or gas discounts, said Rob Borella, senior director of corporate communications.
Prices being offered under the new program will go into effect in two waves, one now and another by April 11, according to the company's announcement.
Mr. Borella said Giant Eagle's push to lower prices are meant to help customers who clearly have been affected by the tough jobs market, higher fuel costs and general economic uncertainty.
The private company, which has 229 supermarkets and 187 fuel and convenience stores in four states, reports annual sales of $9.9 billion.
First Published March 20, 2013 3:09 pm
