Spanish retailer Mercadona plans to invest €150 million in lowering the prices of a range of products to help consumers save on their grocery baskets.
The latest initiative will see the retailer offering more than 1,000 discounted products in 2024, which will enable shoppers to save up to €150 per year from grocery purchases.
Quality Products
Mercadona added that it is seeking to reduce prices without affecting the quality of products.
José Manuel Burguera, director of pricing strategy for the company’s purchasing and prescription department, added, that these reductions would not be possible “without the efforts in productivity, profitability and management being made by the 104,000 workers and 3,000 suppliers, because only in this way can the entire chain be able to lower prices without affecting quality”.
The company will continue to strengthen its assembly line to identify market opportunities with specialist suppliers and inter-suppliers, it noted.
Price Cuts
The latest round of price cuts will see the retailer offer additional discounts on virgin and extra virgin olive oil varieties.
Since January of this year, Mercadona has reduced the price of olive oil in its supermarkets by an average of 14%.
The price cuts will also include fish, bread, and pasta SKUs.
Elsewhere, the company celebrated the fifth anniversary of its first opening in Portugal in July, having invested around €1 billion in the country since its entry into the market.
Mercadona's first store in Portugal opened in Vila Nova de Gaia, Canidelo (Porto) on 2 July, 2019. Since then, the retailer has grown its store count to 50 outlets, while its workforce has grown to around 6,000 employees.
