Giant Eagle freezes or lowers prices on 800 items
- Giant Eagle has launched a “price lock” campaign on 800 items.
- The grocer says prices will be reduced or controlled on those items until August.
- Inflation in the category has slowed but consumers are unlikely to feel instant relief.
Giant Eagle has promised to lock in prices or reduce costs on hundreds of items by an average of 20% for the duration of spring and summer.
According to a May 3 release from the grocer, the discounts will apply to products across its store fleet, including at its GetGo convenience stores. The “price lock” program will take place May 4 and last through August 9, said the grocer.
The “price lock” campaign discounts will apply to 800 products, including grocery essentials. Giant Eagle says the discounts will apply to national brands, its owned brand, and products that include meat, seafood, produce, dairy, prepared meals and health and wellness products.
Giant Eagle is a regional grocery chain that operates more than 400 retail locations with stores in Pennsylvania, where it’s headquartered, Ohio, West Virginia, Indiana and Maryland. The grocer says its printed circulars will have a QR code that will allow shoppers to learn more information about the discounts.
“We are putting the customer at the center of everything we do,” said Bill Artman, Giant Eagle’s interim CEO, in the release. “Right now, our customers are seeking to manage their grocery expenses and telling us they need more ways to save at Giant Eagle to maintain access to the items that are most important to their households. Our teams worked extremely hard in recent weeks to respond to this by delivering meaningful reductions on hundreds of items with a focus on those that are most popular during the spring and summer months.”
Inflation in the grocery category has remained a headache for consumers since 2020 when challenges related to the COVID-19 pandemic sent prices soaring across industries. But inflation has finally started to cool, and grocery prices in March fell for the first time since September 2020, as Retail Leader previously reported. Still, shrinking inflation is unlikely to have an immediate impact on retail sales or consumer sentiment, and behaviors learned during this time period — such as the growth of private label and a focus on value — are likely to remain.