”Consumer expectations regarding both their own finances and the Finnish economy continue to be muted and the importance of price is still emphasised. K Group has traditionally been strong with campaigns and offers, but now we are making a significant adjustment to our basic price levels. The price cuts concern over 1,200 everyday staples that consumers buy often and that account for a significant portion of sales. Price reductions of branded products are on average 4–6 percent, but at best, the price cuts can be as much as 15–20 percent. For Pirkka products, the price reductions are on average 9-12 percent,” says Ari Akseli, President of Kesko’s grocery trade division.
Price reductions have been made in close cooperation between Kesko, K-retailers and supplier partners.
”For us, well-prepared and now executed broad-based price cuts of everyday staples are a better strategic fit than, for example, adding foreign discount products to our selections. This price programme is a significant strategic investment in basic price levels, with Kesko and the retailers jointly investing nearly €50 million in it this year,” says Akseli.
“In grocery trade, we continue to focus on strengthening our three core pillars: further improving the quality of our grocery stores, updating and expanding our store network, and improving our price competitiveness,” says Ari Akseli.
In addition to this latest measure concerning basic price levels, K Group grocery store chains will continue to offer the popular OmaPlussa mobile benefits, the reasonably priced range of over 2,600 Pirkka private label products, and various other campaigns and offers.
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