Altruistic initiative or savvy marketing ploy? All we know is we want to save $$$.
๐ Background: We know the cost of living is ramping up faster than ScoMo and Albo's election campaigns. The rise is impacting everything from petrol prices to furniture prices... down to your Coles or Woolies shop.
๐ What happened: Woolies prices are up 2.7% and Coles have soared 3.3%, but things are even worse in the EU! Inflation for food, alcohol and tobacco rose by 6.4% in April compared to last year.
๐ What else: Leclerc, France's largest supermarket chain has stepped in to minimise the impact of inflation on customers. It's putting its 120 most popular products under a price shield ๐ก.
๐ก Price shields (also called price guarantees) are when companies aim to ensure their customers are getting the best deal with them.
๐ก In Australia, we see similar tactics in the form of price match guarantees at the likes of Bunnings and Officeworks. For Leclerc, the price shield means selected product prices will be frozen from now until July.
๐ก While these seems like virtuous offers, they're also savvy marketing ploys ๐ค. In reality the goal is to avoid losing customers to competitors.
Sign up for Flux and join 100,000 members of the Flux family
