The Christmas price war is a costly affair for the low price grocery chains. Coop says they are losing millions of dollars on the bidding war.
– “The Christmas price war has cost Coop hundreds of millions just this Christmas, alone. It is despairing to lose so much just to be in the competition, especially when hardly anyone benefits. It’s idiotic,” says Communications Director Bjørn Takle Friis in Coop to Nettavisen.
On Monday and Tuesday, several stores chose to cut prices on a number of Christmas items. Some down to historically low prices.
According to Nettavisen, the price of marzipan pigs were cut from almost 30 to 4 kroner, while the price of gingerbread houses went from 29.90 to 2.2 kroner in minutes.
Several stores are empty of the offer items, which means that most people lose out on the price war, Friis believes.
– Maybe only 30 to 40 percent of customers get the product at the low price, while many more are left with black tape.
Communications manager Kristine Aakvaag Arvin in Kiwi also says that the chain is losing money on some of the goods they sell during the price war. The same goes for Rema 1000.
© NTB Scanpix / #Norway Today