A POPULAR grocery chain has said that more than 200 items will now have their prices slashed “significantly” starting from today.
Kroger’s rival Giant Eagle announced it is flushing a whopping $25 million in a bid to lower the prices by at least 20 per cent.
A Giant Eagle grocery store in Glenshaw, Pa[/caption]
The retailer says the plan is meant to help promote “long-term, meaningful value in a fresh department that customers and their families prioritize.”
The planned cuts will see the prices of many items – including several Giant-Eagle-branded articles – get slashed by up to $2.
These include Naval Oranges which will be slashed by 25 cents each, seedless cucumbers by 50 cents each and broccoli by $2 each, Grocery Drive reports.
Items from Giant Eagle’s house that will have their prices axed include white mushrooms and matchstick carrots, which will be $1.30 less per bag.
“In these challenging economic times, we’re proud to make the fresh, quality produce we stock daily more affordable and we believe these savings will make a real difference in people’s lives,” Brian Ferrier, Giant Eagle’s senior vice president of merchandising, said in the announcement.
Giant Eagle is one of the major food retailers that has more than 450 stores across states including Pennsylvania, Ohio, West Virginia, Maryland, and Indiana.
It comes after one savvy shopper revealed the best time to shop at Costco for exclusive deals and major savings.
The Costco customer also shared how to determine which products will be sold at lower prices, and which items are priced to sell immediately.
Costco makes their own cost adjustments,” Troy Cook shared on Facebook.
Despite Costco already offering affordable prices compared to other major retailers and grocery store chains, Troy shared a little-known trick to save even more money.
“Costco may lower prices on the fourth Monday of each month, which [are] known as ‘Markdown Mondays,’” he revealed.
Costco’s Markdown Monday occurs once a month, typically on the fourth or last Monday of each month.
Despite its relatively “secret” status, this monthly sale is offered at most Costco stores.
The chain slashes prices even further to incentivize customers to buy more products and clear out room for additional shipments and new items.
Costco’s sales aren’t posted on Costco’s website or otherwise advertised to shoppers.
CPI and Inflation explained
THE Consumer Price Index is how the federal government measures inflation.
Every month, the Bureau of Labor Statistics shares its CPI numbers with detailed breakdowns of which items have changing prices.
The CPI shows the amount prices rose or fell over the previous 12 months.
The calculation process is complex, but measures the changes in price for urban consumers, those living or working in an American metropolitan area.
While that does not cover everyone, it measures prices for about 90% of the population.
Instead, they’re usually posted in stores on the day of or the day before new sales start.
“This is also when Costco may have clear-outs, so items with an asterisk (*) may be worth buying before the fourth Monday,” Troy added.
Costco price tags offer customers more information than they may initially realize.
Like Troy mentioned, items with an asterisk on their price tag will likely be “leaving” Costco soon, or won’t be around for long.
This could be because Costco won’t replenish the item, or the manufacturer will no longer make or sell the item to Costco warehouses.
Customers who see an asterisk on a price tag shouldn’t wait until the fourth Monday of the month to purchase these items – they may not last more than a few days or weeks in stores or online.
“Items that end in .97 are also usually on clearance or manager discount and may be the lowest price available,” Troy revealed.
