Lidl's competitors S group and Kesko have also announced that they will reduce the prices of their own cheap brands.
Grocery chain Lidl says that it has reduced the prices of around 800 products since December. The latest price reductions for 300 products came into effect on Thursday.
According to Lidl's press release, the product price reductions are on average around seven percent and up to 40 percent at most. The price reduction applies to all Lidl stores in Finland.
According to Lidl, prices have been reduced in all product categories. Lidl's standard selection consists of approximately 2,500 products.
Grocery stores price competition has been tight lately.
S group announced in January that it will lower the price of the 400 Xtra cheap brand product. Kesko, on the other hand told in February that he lowered the prices of all K-Menu cheap brand products.
Both large grocery chains reported that the price reductions were five percent on average.
The S group and Kesko also reduced the prices of several products a couple of times during the last year. Lidl, on the other hand, said before the turn of the year that it would renew its loyalty program, the purpose of which is to increase the chain's market share.
In 2022, the S group was by far the largest grocery store in Finland. At that time, its market share was approximately 47 percent. The share of the second largest K group was around 35 percent and Lidl's just under 10 percent. Market shares have remained similar for a long time.
Last year's market share figures will be announced in March.
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