Meijer Rolls Back, Err, Drops Prices
Memo to Wal-Mart. Roll this back. Meijer’s “Price Drop” has arrived.
The Grand Rapids, Michigan-based supercenter operator announced it was lowering prices and, beginning this Sunday, the company’s 175 stores will begin offering unadvertised price reductions on items on a daily basis.
The move comes as the retailer seeks to fend off increased competition from Wal-Mart’s Supercenters, although the defensive strategy is not publicly acknowledged by Meijer.
According to a company release, each Meijer store will have “hundreds of blue ‘Price Drop’ banners, shelf tags and floor graphics” to show customers where they can find the best deals. Meijer will also make use of outdoor billboards and cart signs as way of introducing consumers to its “Look For The Blue” program.
Roughly 5,000 items are expected to be part of the “Price Drop” program on any given day and Meijer plans to add new items from categories across the store every week.
“This program is clearly customer-centered as it underscores our promise to keep prices as low as possible and to provide an easy shopping experience for our customers,” said Stacie Behler, vice president of corporate communications and public affairs at Meijer. “In addition, our customers will benefit from being able to find great discounts on many of their favorite items whenever they shop.”
Ms. Behler said the program helps to reestablish Meijer’s reputation for offering low prices and real value on the products it sells. “It’s critical that our customers know that offering them the lowest price possible is the foundation of our business. This program is tangible evidence of our continued commitment to competing aggressively for their continued loyalty,” she said.
Discussion Question: Is Meijer’s “Price Drop” the answer to dealing more effectively with the competition coming from Wal-Mart?
- Meijer Launches Aggressive ‘Price Drop’
Program to Re-Emphasize Low-Cost Reputation – Meijer/ PRNewswire