Foodstuffs have announced a price rollback on over 100 everyday grocery items in New World, PAK'nSAVE and Four Square stores across the country. Products instore will be labelled, and those online will be found under 'Rollback.' A full list will be available to customers on Monday 16 May.
"This is not a marketing stunt. It’s a real saving for our customers and a real cost to our business, as a result of this price rollback our stores will be selling some items below cost. Other promotions will continue over this time. These are extraordinary times and kiwis must be able to afford the everyday items they need in their weekly shop over the next few months. " Said Foodstuffs NZ Managing Director Chris Quin.
The items to be price dropped by an average of ten percent include frozen and fresh fruit and veges, butter, cheese, tea, coffee, sugar, flour, and personal care items such as nappies and soap. NZ consumers are said to purchase 1.36 million of these products each week, and the price will match those seen in early 2021.
“You won’t see highly seasonal fresh fruit and vegetables like broccoli and spinach in the basket, because we trade constantly to get customers the best deal on these each day, and will continue to deliver the best value through winter."
Specific price drops include: Pams Edam Cheese, 1kg block go from $11.55 back to $9.99, and Value Frozen Mixed Vegetables, 1kg, go from $2.59 back to $2.19 at New World stores in the North Island. In the South Island 185g Sealord Tuna will be going from $3.39 to $2.79, and 1.5kg Pams Rolled Oats going from $4.29 to $3.94.
“Globally, food cost increases and the pace of food price inflation are at near-record levels. Transport and fuel costs, global supply chain issues, currency changes, skills shortages and increases in the price of equipment and ingredients are just a few of the challenges our suppliers are facing, and are adding to the cost of growing, making and retailing groceries in Aotearoa.”
Foodstuffs North Island saw 3,300 products undergo supplier price increases over the last four months.
“Within the 19 cents of every dollar on the supermarket shelf we’re responsible for, we’re working hard to keep costs under control,”
“With household budgets under pressure, we’re working to buy well and run our business as efficiently as possible so we’re not adding cost. As two New Zealand cooperatives owned by our 430 store owners throughout New Zealand, we’re on the shop floor every day, committed to our local communities and being held accountable by New Zealanders every day for what we do.”
The price rollback will end on Sunday 14 August.
This announcement follows Countdown's recent winter price freeze and Consumer NZ's call for more affordable grocery products.