Price wars: the return of the bargain
It was a clash of the titans for the 'back to school' weekend as the multiples went to war on prices
11 September 2008 | 0
Over the last month, major retailers in the Irish market have kept the press entertained with an all-out price war. First Lidl and Tesco went head to head when the discounter launched an offensive on the British retailer’s Cash Savers range. Then the competition heated up as other major names joined the fray. In the last weekend of August (back-to-school primetime), Dunnes cut prices by 10% on all grocery except cigarettes and alcohol. Superquinn then announced it would slash prices on 24 staple grocery items by up 75% “while stocks last”, bringing the total number of products reduced by the retailer since June to 1,000. In spite of this flurry of discounting, Tesco dismisses its rivals’ bargain drives as temporary, adamant that it can convince the masses of its status as a low-cost retailer for the long-term.