September 12, 2013
PITTSBURGH – Giant Eagle is following up on its March everyday price reduction by delivering an additional $40 million-plus in annual customer savings with new lower prices on more than 2,000 items, bringing the company’s total 2013 price reduction annual investment to more than $110 million. By lowering everyday prices on popular fresh and grocery items throughout the store, Giant Eagle continues to strengthen the overall value provided at a time when consumers continue to demand the best of both quality and savings.
Even as perception of the economy improves, with the United States generating 169,000 new jobs in August, grocery shopping trends suggest that consumer confidence remains lukewarm. According to a recent Ipsos Public Affairs report, price is still a dominating factor when selecting a grocery store, with 73% of survey respondents ranking price as a first or second priority.
With today’s price reduction announcement, Giant Eagle is demonstrating its commitment to find more ways to help customers save. The reduced prices are on popular items in categories including meat, produce, dairy, frozen, health and beauty care, and pet, and the average price reduction is 10%.
“We realize that our everyday prices are an important part of the overall value we offer customers,” said Giant Eagle Senior Vice President of Merchandising John Tedesco. “By reducing prices on popular items such as fresh chicken, carrots, oatmeal and more, we hope to help families pack lunches and prepare meals that are nutritious, fresh and that meet their budgetary needs.”
Giant Eagle customers can identify the savings with yellow “New Lower Price” tags which are located throughout the store. Some examples of the more significantly reduced everyday prices are listed below.
Item Former Price New Price Percentage Reduced
Giant Eagle Roasting Chicken $1.99 (per lb.) $1.39 (per lb.) 30%
Campbell’s 4 Pack Chicken Noodle Soup $3.99 $2.99 25%
Farmers Market Baby Cut Carrots (2lb Bag) $3.29 $2.99 9%
Giant Eagle Chunk Cheese $2.79 $2.50 10%
Nissen Ramen Noodles $0.49 $0.20 59%
Domino Sugar $3.19 $2.78 13%
Giant Eagle Old Fashioned Oatmeal $3.99 $2.99 25%
Pillsbury Rolled Pie Crusts (2 count) $3.69 $3.29 11%
Kraft Velveeta & Shells $3.09 $2.39 23%
Tedesco added that this most recent price reduction reinforces with Giant Eagle customers the company’s dedication to meeting all of their food, drug and fuel needs, while continuing to deliver on the quality Giant Eagle customers have come to expect from the retailer. A 2012 Booz & Company study echoed the opportunity for retailers to improve how they deliver value to consumers, noting continued trends in consumers choosing to visit multiple retailers for weekly grocery needs, and an overall rationalization of the items carried in pantries to only those that are essential.
“As we reduce these everyday prices, we will continue our focus on offering the highest quality produce, meat, seafood and prepared foods, and numerous ways for customers to save throughout the store,” added Tedesco. “We hope that by offering this combination of quality, value and customer service we allow our customers to maximize their time and money by finding entire meal solutions under our one roof.”
Giant Eagle’s price reduction activities build on the many ways the company helps customers save, including thousands of great weekly specials, fuelperks!, seasonal low price lock campaigns, the doubling of manufacturer coupons up to $0.99, an unbeatable pharmacy discount program highlighted by the current seasonal free antibiotics offering, and more.
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