Finnish grocery retailer Kesko Food has said its K-supermarket chain has responded to heavy price competition between stores by lowering the prices of 500 products.
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The average reduction is nearly 6%, about €1 (US$1.2) at the most. The new prices will take effect in all of the chain’s stores as from 9 September.
Nearly 400 of the price-reduced products are food items, such as bread, milk products, cheeses, frozen foods, grain products, juices and ready-to-eat foods. The reduced prices include both well-known brands and Kesko’s private-label brands.
The K-supermarket chain, which has more than 150 stores, has sales last year of nearly €1.4bn.
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By GlobalData
