Giant Eagle Launches New ‘Price Lock’ Strategy’
PITTSBURGH (KDKA) — Remember when folks lined up to shop when the latest Bottom Dollar grocery store opened this summer?
Well, now Giant Eagle is fighting back — and their customers say it’s about time.
“What I used to get for a hundred dollars a buggy full, I now get three bags,” Denise McGrogan of Carnegie told KDKA money editor Jon Delano outside the Giant Eagle Market District in Settler’s Ridge.
Giant Eagle calls it Low Price Lock, locking in the prices of more than 300 products from now until January 2nd.
It’s part of a nationwide strategy being used by the major supermarket chains to compete against the lower prices of those discount stores.
It’s not just Bottom Dollar, the fastest growing discount grocery in this region, but other stores like Aldi, Costco, and Walmart, which advertises its cheaper grocery prices over Giant Eagle.
Customers of the area’s largest chain often say Giant Eagle has the highest prices.
“I think probably a little bit higher because of the gas savings you get. I think it makes it higher, says Linda Peterson of Moon.
But because of the gas-perks and food-perks, many Giant Eagle customers believe it all evens out.
“You get the gas back and you get the percentage back on your food. I think it all works out to be about the same so,” adds Amy Durkin of North Fayette.
But higher initial prices can scare customers away, so Giant Eagle’s price freeze on some products through the holidays may be a smart strategy, especially coming at a time when food prices have been rising faster than inflation.
“I think the produce, the fruits and vegetables, and the meats, of course,” says Mickey Chiesa of Findlay.
Some of the items to be price frozen for the next three months include boneless chicken breast value pack ($1.99/pound), Giant Eagle white bread, 20-ounce bag ($0.99), Jif creamy peanut butter, 28-ounce jar ($3.88), Heinz gravy ($1.00), and Giant Eagle frozen vegetables ($0.99).