In an exciting lead-up to the festive season, Woolworths stores are set to mark down the prices of about 150 items, encompassing popular food products like pork roasts, prawns, and potato chips. This strategic move, rapidly followed by competitor Coles, seeks to tap into the profitable realm of Australian supermarket shopping.
In these times of escalating living costs and strained household budgets, Woolworths has integrated these holiday essentials into its “Prices Dropped” and “Low Prices” campaigns; a respite for Australians looking to celebrate without breaking the bank.
The overall cost savings for the newly included items amount to $214, marking an average price decrease of 17 per cent.
Notable reductions include roast pork loin (from $14 per kilo to $12), pavlova bases (down from $9.20 to $6), Karumba Banana Prawns 1kg ($26 down to $20), four-pack of Bundaberg Sparkling ($7.45 down to $5.15), and popular 380g packs of Smiths Crinkle Cut Chips ($8.50 down to $6).
Moreover, Woolworths half leg ham will now retail at a decade-low price of $8 per kilo. The savings will be initiated on Wednesday and will continue until December 27.
In a similar move earlier in October, Coles, a major competitor, introduced 292 new products in its supermarkets and Liquorland bottle shops, aiming to provide financial relief to families during the Christmas season.
Customers can look forward to “142 new supermarket products to stretch budgets further, from great value, quality, affordable products, through to the indulgent Coles Finest range.”
Natalie Davis, Managing Director of Woolworths Supermarkets, acknowledged the current need for budget-friendly options, asserting that the focus on pantry staples and seasonal additions will offer more choices for shoppers during the festive period.
An array of Woolworths and Gold’s own brand products, including more than 40 award-winning products made from locally sourced ingredients, are now accessible; affirming Woolworths’ commitment to high-quality, affordable and locally-flavoured Christmas staples.
However, in spite of such promising initiatives, Woolworths’ Q1 2024 report reflected a sales earning of $13.08bn; an increase largely attributed to inflation within the quarter. This contrasted with a reported decrease in the number of items in shoppers’ baskets by 2.4 per cent. As Sky News Business Editor Ross Greenwood pragmatically pointed out “People paid more but got less, understandably, that leads to unhappy shoppers.”
Nevertheless, as the competitive landscape continues to evolve, Woolworths’ efforts combined with the endeavours of its rivals promise to make the forthcoming holiday season more budget-friendly, as affordability and variety take centre-stage.