Giant Eagle to lock prices on 800 items this summer
PITTSBURGH (KDKA) — With grocery store prices costing families more and more each week, Giant Eagle is looking to help families.
It comes at a time when the grocery store chain is going through a change in leadership.
According to Nerd Wallet, food prices went up about 8.5% from March of last year to this year, and the pain can be felt by customers. Many are now going to multiple stores to get the best bargain.
That's eaten into the size of the market Giant Eagle has on groceries.
"We're in a really unique moment to reevaluate our everyday business decisions," Giant Eagle spokesperson Jannah Jablonowski said.
With a change in leadership with new interim CEO Bill Artman, the grocery chain is trying to get some customers back in their stores. Starting Thursday, it will use what it is calling price lock to lower prices on 800 items and lock those prices in for the summer.
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Many of the items are seasonal like hamburgers, hot dogs, buns and smores.
"We went department by department across the storm to find out what those popular items are going to be for this summer celebration and gathering season," Jablonowski said.
Now the prices may not be exactly where they were before they spiked. The company said the prices should be down an average of nearly 20%.
Nerd Wallet said the average family spends almost $440 a month on groceries. That 20% difference would take it down to around $350 a month.
"How do we create enough of a discount and enough value on these items that customers won't feel that they have to shop around," Jablonowski said.
It is possible that this price lock could be a feature for more than the summer season.
"If they respond really well, we will certainly be changing up seasonal items as we shift into the fall season," Jablonowski said.
Giant Eagle said the price lock runs through August.