Skip to content
General

Coles “drops and locks” price of essentials until Easter

By Aiko Tanaka
1 min read
Coles MArket
Coles MArket
In this article (5)
Australia’s major supermarket chains have dropped prices on hundreds of products as the cost of living crunch continues.
Coles announced it would “drop and lock” prices on more than 300 new items from Wednesday until April 11, after the Easter weekend.
Brands including Kellogg’s, Kleenex, L’Oreal, Morning Fresh, Gillette, Uncle Toby’s, Four N’ Twenty, Arnott’s, Steggles, McCain, Carman’s, and Cold Power, along with a number of Coles brand products, will be included in the price lock.
Coles chief executive of commercial and express Leah Weckert said the new price lock included double the amount of items that had been included in the supermarket’s previous one last year.
“We understand many Aussie households are feeling the pinch following Christmas and by dropping and locking the price of hundreds of popular and essential items we are honoring our commitment to helping Aussie budgets go further,” Weckert said.
Woolworths meanwhile said while its 2022 Price Freeze program had ended, hundreds of products were still discounted.
“We’ve recently reduced the price of more than 300 summer grocery staples as part of our Prices Dropped campaign,” a spokesperson said.
“We will continue reviewing each cost increase request from our suppliers case-by-case basis, working together to manage market-wide inflationary pressures sensitively.”
Both Coles and Woolworths committed to a six-month price lockdown in the middle of last year, and grocery prices were expected to boom when that expired.
Coles said a survey of more than 7500 customers found 82 per cent were making changes to their grocery shopping to counter the rising cost of living.
More than half (57 per cent) were buying more discounts, cooking more at home (51 per cent) and cutting back on treats (55 per cent).
Woolworths has said it is also committed to meeting customer needs as the cost of living crisis continues.

Questions & Answers

Q.

Which specific items are included in Coles' price lock initiative?

A.

The price lock includes brands like Kellogg’s, Kleenex, L’Oreal, Morning Fresh, Gillette, and Uncle Toby’s. Other brands such as Four N’ Twenty, Arnott’s, Steggles, McCain, Carman’s, and Cold Power are also covered, along with several Coles brand products.

Q.

How long will Coles' current price lock last?

A.

Coles announced it would drop and lock prices on more than 300 new items from Wednesday. This price lock will remain in effect until April 11, which is after the Easter weekend.

Q.

How does this new price lock compare to Coles' previous initiative?

A.

Coles' chief executive Leah Weckert stated that the new price lock includes double the amount of items. This is in comparison to the number of items that were part of the supermarket’s previous price lock last year.

Q.

What changes are customers making to their shopping habits due to the rising cost of living?

A.

A survey of over 7500 customers found 82% are changing habits. More than half are buying more discounts (57%), cooking more at home (51%), and cutting back on treats (55%) to manage expenses.

Reader pulse

Coles' new price lock:

23,574 votes so far

Weekly Briefing

Asia's retail intelligence, in your inbox

Monday, Wednesday and a Friday Weekly Wrap: the retail stories, numbers and moves that mattered across Asia. Nothing else, and you can unsubscribe in one click.

  • Top industry moves and market shifts
  • Weekly data-driven analysis from across Asia
  • Monday, Wednesday and the Friday Weekly Wrap

Read by retail operators, investors and brand teams across Asia.

Protected by a quick human check. No spam, ever. Unsubscribe in one click.

SecureGDPR ready