Starting today, October 5, the food retailer is lowering prices on more than 600 items at all Stora Coop supermarkets.
We are implementing a new pricing strategy, starting at Stora Coop.
Torell points out that Coop’s prices have simply been too high at times.
We can see from the public price surveys that Coop does not always come out on top, and that is not a sustainable position in the long term. We have addressed that.
On average, prices on the more than 600 items will be reduced by 6.9 percent.
“These are the goods that people buy the most. That’s why we started with them. We also see that we are getting down to competitive prices on those products,” says Torell.
The price cuts come after the chain found that profitability and customer confidence had been affected by the perception that Coop was expensive. The initiative is being financed by the 23 consumer associations, and Coop is aware that profitability may initially be affected.
Looking ahead, we often see that price initiatives hurt profitability in the short term. But in the long term, we believe this is a profitable investment. Above all, we are member-owned, which means we are doing this for our members.
