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PITTSBURGH -- In an ongoing effort to keep the Rollback Man and tactics of other large format retailers at bay, Giant Eagle based here yesterday launched its third round of price cuts, slashing roughly 10 percent off the prices of nearly 3,000 items.
A Giant Eagle spokesman confirmed with Progressive Grocer that this third version of the price campaign has a much greater focus on health and beauty care products than previous incarnations. About 1,000 HBC products were reduced this time, along with grocery, dairy, and frozen food items.
The grocery chain predicted the latest round of price reductions will save customers some $34 million, building upon the company's first and second rounds of $70 million in annual combined price reductions implemented in November of 2004 and April of 2005.
Giant Eagle added that it will continue to slash prices on a periodic basis.
Company officials said the latest everyday low price effort is consistent with Giant Eagle's ongoing commitment to providing the best overall value, and is a direct result of its efforts to maximize operating efficiencies and pass the cost savings on to customers.
"More everyday prices are going down and staying low as we continue to enhance everyday value for our customers," said Kevin Srigley, the chain's s.v.p. of marketing "Our ability to make these reductions is a result of the cost savings initiatives we have enacted. We will continue periodically reducing everyday prices as we realize ongoing savings from our efforts."
Srigley said customer research via phone surveys, focus groups, and purchase trend analysis provided Giant Eagle with direction on which items to choose for cuts. "Our customers told us where price reductions would have the greatest benefit for them," he said. "Importantly though, our customers also stressed that they did not want quality to be impacted, particularly in our perishable offerings. Our strategy is to continue to offer the highest quality in meat, produce and other perishable items combined with the best values across the store."
Item signage with the message, "More Everyday Prices Are Going Down And Staying Down," will go up throughout Giant Eagle's supermarkets to help shoppers identify the savings.
In addition to lowering everyday prices, Srigley said Giant Eagle continues to improve the overall customer offering with high quality and variety in its perishable selections, corporate brand enhancements and new product lines such as Valu Time; aggressive seasonal merchandising displays for candy and holiday items, and the expansion of the popular fuelperks! loyalty reward program to additional supermarket and GetGo locations.
Giant Eagle comprises 138 corporate and 78 independently owned and operated stores throughout western Pennsylvania, Ohio, north central West Virginia and Maryland.