Switzerland (GenevaLunch) - A battle has been brewing among supermarket chains, with lower prices the most obvious benefit to consumers. Migros Tuesday morning announced that it will lower the prices of 150 items in order to ensure its prices remain lower than those of its competitors.
Coop follows it as the second largest supermarket chain in the country, but German lowcost hypermarkets are making inroads. Coop announced 4 January that it would be cutting the prices of some 600 items.
Migros spokesperson Monika Weibel said the company wants to make sure that over the course of a year its products are 5-10% lower in price than those of other companies. Migros also announced that it is merging its “near-food” and “non-food” units into one “more powerful” business unit, but with the loss of 12 jobs and with three early retirements.
Related story, TSR, Fre with an interview with Guy Vibourel, head of Migros Geneva, asking if Switzerland’s reputation as an island of higher prices could be coming to an end.
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News story, GenevaLunch, 13 January 2009.
Filed under: Business, Uncategorized
Tags: Business, Business and finance, Coop, food, Migros, prices, supermarkets, Swiss business, Swiss companies, Switzerland