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PITTSBURGH - The double coupon wars continue to heat up here, with the latest salvo fired by Giant Eagle, which reinstated its double coupon redemption program on manufacturer coupons up to 99 cents.
Earlier this month, Giant Eagle said it would stop doubling coupons that exceeded 50 cents. But yesterday the company, citing the competitive nature of the Pittsburgh market, said it has now reversed that position and will reinstate the double coupon program up to and including $0.99 coupons.
The decision comes just one day after rival Shop 'n Save said all Pittsburgh area stores would honor double coupons to 99 cents.
Effective today, the grocery chain also launched another round of price cuts on more than 750 products with an average reduction of 16 percent, which it expects to result in roughly $12 million in annualized customer savings. The lower everyday prices will affect a variety of popular national and Giant Eagle brand items, including numerous canned goods, pastas and sauces and dinner mixes.
Company officials said the most recent price reduction is a continuance of its long-standing corporate strategy and kicks off a series of similar planned price reductions in the coming months.
"Continuing our efforts to lower everyday prices and providing customers the best overall value are critical pieces of our corporate strategy and respond to our customers' needs," said Brett Merrell, Giant Eagle's s.v.p./marketing. "Our ability to make these price reductions is a result of the internally-focused cost savings initiatives we have enacted."
Merrell said the latest price cut effort is the first in a series of forthcoming rounds in the pipeline and are in addition to Giant Eagle's other promotional programs such as weekly specials, double coupons and fuelperks!
Since beginning its everyday price reduction campaigns in 2004, Giant Eagle has invested a total of more than $150 million in customer savings on grocery items and generic prescription drugs, in addition to some $435 million customers have received in fuelperks! savings since the program's inception.
Giant Eagle will identify the savings with special signage throughout its stores, which states: "Price Cut: When You See Green you Save Green!" It will support the price reduction and promotional efforts with a full marketing campaign including television, radio, newspaper, billboard, online, print and in-store advertising to reinforce its everyday low price and return to double coupon messages.