It was just about a year ago that Wegmans announced that it was lowering prices on hundreds of items - even though in some cases manufacturers were not lowering their prices - saying that the deepening recession demanded an aggressive response on behalf of its shoppers.
Today, according to the Rochester Democrat and Chronicle, Wegmans is saying that those cuts have saved its shoppers about $20 million - and it plans to highlight those savings in a series of print ads and in-store signage.
The story reports that Danny Wegman “says that aid the company made the decision expecting its then-high fuel, commodity and other costs to decline, but Wegmans couldn't guarantee the low prices would remain.
“But Wegmans' sampling of product categories this week suggests the low prices stayed put or dropped further. The company reports that average retail prices declined 26 percent for pork and milk, 20 percent for packaged breads, 17 percent for beef, 11 percent for cheese and 7 percent for chicken.”
Today, according to the Rochester Democrat and Chronicle, Wegmans is saying that those cuts have saved its shoppers about $20 million - and it plans to highlight those savings in a series of print ads and in-store signage.
The story reports that Danny Wegman “says that aid the company made the decision expecting its then-high fuel, commodity and other costs to decline, but Wegmans couldn't guarantee the low prices would remain.
“But Wegmans' sampling of product categories this week suggests the low prices stayed put or dropped further. The company reports that average retail prices declined 26 percent for pork and milk, 20 percent for packaged breads, 17 percent for beef, 11 percent for cheese and 7 percent for chicken.”
- KC's View:
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This is called being an advocate and agent for the consumer, and then communicating that fact effectively to shoppers. Just one more thing at which Wegmans is expert.
Many of the headlines in newspapers today seem to be about the economy surging. Whether it is or not, and now long it will last, Wegmans’ approach has been focused and canny.
