Daily Newsletter

11 August 2023

Daily Newsletter

11 August 2023

Aldi cuts price of more than 30 household grocery products

Prices of fresh produce and essentials will be reduced by an average of around 7% this week.

Jangoulun Singsit August 11 2023

Supermarket chain Aldi has reduced prices of more than 30 household grocery staples this week to help customers save.

Price will be reduced on fresh produce, including oranges, apples and peaches, as well as on essentials such as butter, canned food, personal hygiene products and pet treats.

Aldi said that prices will be reduced by an average of around 7%.

Over the past two months, Aldi made more than 130 prices reduction across its entire range.

Last month, the supermarket chain announced price cuts on fruit and veg products to help customers during the cost-of-living crisis.

Prices of ten products, including avocados, red peppers, easy peelers, baking potatoes and sweetcorn were reduced by up to 36%.

Aldi UK buying managing director Julie Ashfield said: “Our promise is that we will always offer the lowest grocery prices and we’re doing everything we can to pass savings on to our customers. As Britain’s cheapest supermarket, shoppers are switching to Aldi from every other supermarket.”

Other retailers have also made similar moves over the last two months.

Earlier this month, UK-based co-operative group Co-op made its biggest single investment in pricing to lower the costs of everyday essentials.

Supermarket chain Asda also dropped the prices of 226 own-label products to support families amid the increasing cost of living crisis.

Tesco also reduced prices of more than 500 household essentials, summer favourites and healthy foods.

APAC duty-free market expected to grow fastest, fueled by rising income levels and international travelers

Per latest GlobalData estimates, the global duty-free market retailing market was valued at $49 billion in 2022, its highest level ever as it bounced back from the pandemic impact, and is expected to grow at a CAGR of more than 28% during the period 2020-2026, driven by government initiatives, rising passenger numbers, major global events (for instance global sporting tournaments) and the renewed popularity of cruise trips. Infrastructure investments will also play an important role, particularly airport expansion and space refurbishment, and investments in arrivals duty-free formats. That said, growth will be held in check in the years ahead by the permanent erosion of disposable income from the heightened cost of living impacting demand for air travel. The duty-free market in the APAC region showed strong growth in 2022, as traveler numbers surged in response to the lifting of travel restrictions. To cater for rising demand in the region, many airports in the APAC area are expanding and modernizing, giving duty-free stores greater space that will allow them to attract more customers. The future of APAC duty-free retail is also being shaped by the adoption of technology. The rise in online shopping, mobile payments, and digital marketing are giving businesses new ways to connect with customers and improve the shopping experience.

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