Finnish retailer Kesko has reduced the prices of around 200 grocery products under its K-Menu range by an average of 5%.
The range, offering affordable everyday products, saw sales increasing by 30% in the last six months, the retailer added.
Harri Hovi, director of merchandising and sustainability at Kesko's grocery division stated, "The price of food is a daily target for many customers, and the increased sales of K-Menu products shows that there is now a demand for inexpensive everyday products.
"At K-food stores, we want to respond to this even better by lowering the prices of the entire K-Menu series products."
Price Reductions
The majority of products offered under the K-Menu range are food items and the price reductions at best are up to 30%.
The retailer added that it adheres to strict quality control to ensure that the quality of products is not compromised.
Hovi added, "The product selection in K-Menus is growing all the time, for example last year the series was supplemented with 20 new products. This group included, for example, wheat flour, minced meat, chicken fillet, juice and soap.
"Furthermore, we take domesticity into account, especially in product groups that are important to customers, which means that, for example, all fresh meat in the K-Menu series is Finnish. So, for example, in last year's novelties, where both minced meat and chicken fillets have the Hyvää Suomesta label."
K Group has reduced the prices of more than 4,000 different grocery products in the past six months, including more than 300 products in the Pirkka range.
Most price reductions are mainly based on the prices of raw materials or production costs, the company noted.
Promotional Offers
The retailer also highlighted that almost 90% of customers follow and benefit from promotional offers.
"We have invested heavily in offers in the past: we already have hundreds of products on offer in our stores. However, we will continue to increase their numbers," Hovi stated.
Monitoring and evaluating the price of food is an everyday activity in a grocery store, the company noted and added that the rise and fall of prices have become commonplace, when the costs of products vary.
