Dive Brief:
- Aldi is slashing prices for the summer season on over 250 items, saving U.S. shoppers over $60 million, according to a Thursday press release.
- The promotion extends the grocer’s Aldi Price Promise by focusing the discount on seasonal items.
- The discount grocer is pressing its low-price advantage as inflation remains high and as consumers show they’re willing to switch stores in order to get good deals.
Dive Insight:
Aldi did not specify how long the summer price slash would be in effect. A selection of newly lower-priced items listed in the announcement include products with some discounts reaching nearly 25%.
The grocer categorized the items with the reduced summer prices as pairing with a variety of summer activities. These include trail mix, beef jerky and protein bars for outdoor activities; and cheeses, roasted almonds and salami for picnicking. For a “morning fuel up,” the grocer has granola, coffee and coffee creamer with the price cuts.
Aldi U.S. co-president Dave Rinaldo noted the discounts are to ensure shoppers’ summer plans aren’t disrupted by the high food prices and so they can enjoy the season “outside the grocery aisle.”
The discount grocer has timed its promotions around seasons and holidays before. In November 2022, Aldi launched a “Thanksgiving Price Rewind,” matching its 2019 prices on appetizers, desserts, sides and beverages, dropping prices by up to 30%.
Lidl also rolled out a Thanksgiving discount in 2022 offering a holiday essentials basket that provided shoppers with enough ingredients to feed up to 10 people for under $30.
Although inflation has recently started to decelerate, shoppers across the country remain very price sensitive. Discount retailers like Walmart say they’re gaining market share in grocery, including among affluent consumers.
Discount grocers aren’t the only ones showing commitment to offering their shoppers value. Earlier this month Giant Eagle debuted its “Price Lock” program, reducing prices on nearly 800 items by an average of 20%. The discount program will run until early August.
