The S group said in January that it would also reduce the prices of the Xtra cheap brand products by an average of five percent.
Finland the second largest retailer K group says that it has reduced the prices of all K-Menu cheap brand products.
According to Kesko's press release, the price reductions are five percent on average and up to 30 percent at most. The discounts took effect on Wednesday.
K-Menu is the K group's own brand focused on affordable food and other daily goods. The product line includes about two hundred basic products, the majority of which are foodstuffs.
The K group's price reductions are an obvious response to the price reductions announced by the main competitor S group just over a month ago.
The S group told in January that it will lower the price of 400 Xtra cheap brand products. The S group also reduced the prices of the Xtra product series by an average of five percent.
The biggest discounts in the S group targeted beef mince, coconut milk, instant oatmeal and chocolate chip cookies.
Kesko says that sales of K-Menu products have increased by 30 percent over the past six months. According to Kesko, it wants to use discounts to better respond to changes in demand.
“The price of food is a daily monitoring target for many customers, and the increased sales of K-Menu products shows that there is now a demand for inexpensive products,” says Kesko's director responsible for merchandise sales and responsibility in the grocery business Harri Hovi in the bulletin.
The price reductions made now are a continuation of the reductions made in the K group during the last six months. According to the K group, it has reduced the prices of more than 4,000 different grocery products in the last six months.
Finland The market share of the K Group, known as a higher-quality alternative to grocery shopping, has been under pressure in recent years after inflation accelerated and consumers' purchasing power began to shrink.
In addition to quality, the group has tried to emphasize throw-in offers and inexpensive own products, but last year the group's sales still grew more slowly than the sales of the entire grocery store.
Last year's market share figures will be announced in March.
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