Coles set to slash prices on dozens of items this month
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These days everything seems expensive.
Australians are caught in the middle of a cost-of-living crisis, and the Reserve Bank of Australia (RBA) has addressed this partly by enforcing an interest rate hike.
While in the long run, this move is expected to clamp down on record high inflation causing equally high living costs, for the coming weeks many are left with no choice but to take things on the chin.
On the grocery shopping front, one way people can save money is through loyalty programs.
Enter Coles, which recently announced that it is reintroducing its Flybuys member deals on select items to take a bit of the edge off Australian budgets.
According to reports, more than 20 items will see lower prices in the coming weeks, including staples such as yoghurt, chicken schnitzels, and juice.
A representative for Coles said this recent move essentially widens the number of items special rates moving forward.
‘These discounts on a wide range of products, from dinner essentials like RSPCA Chicken Breast Schnitzel… make it even more valuable to scan your Flybuys in-store at Coles during the weekly shop,’ said Coles Chief Executive of Commercial and Express Leah Weckert.
‘We have seen our customers turn to rewards programs in these hard times to help them save for anything from kitchen products to overseas trips.’
‘This new range of Flybuys Member Pricing joins our successful Dropped & Locked campaign in taking the pressure off Aussie families by reducing the cost of everyday items and getting the household budget to stretch further.’
For the next month, other products Coles shoppers could nab for cheaper include Coles Brand Scotch Fillet Steak and Pork & Beef 3-Star Mince Bolognese.
The retail giant also recently confirmed that it would be extending its Dropped and Locked price freeze program which was initially set to end on January 31.
Aussies can expect more affordable prices at Coles under the program until April for most items, while some reach until May and July.
Anna Lee, CEO of Flybuys, said the move would put ‘some power back’ into the ‘hands and wallets’ of around 8.6 million Aussies.
Meanwhile, rival Woolworths, whose discount offering on certain products lapsed late last December, moved to freeze the prices of around 300 summer staples as an incentive for customers.
It remains to be seen how Coles, Woolworths, and other retail giants will adjust moving forward considering some experts have forecast further interest rate hikes on the horizon for Australia — as high as 3.85 per cent by the end of 2023.
Experts have previously pointed out that moves such as Coles prove to be a silver lining for Aussie consumers as it spurs competitors to also offer attractive deals.
‘We have a highly competitive food and grocery market here in Australia,’ consumer expert Prof Gary Mortimer said early last month.
‘I think… consumers will become more cognisant and aware of food and grocery prices. That’s going to encourage all… supermarkets to compete heavily on prices and promotion.’
So, what are your thoughts on this development from Coles? Do you think it would be enough to encourage you to shop more, or will you still keep a tight grip on grocery spending for the time being?
Share your thoughts with us in the comments below!
Australians are caught in the middle of a cost-of-living crisis, and the Reserve Bank of Australia (RBA) has addressed this partly by enforcing an interest rate hike.
While in the long run, this move is expected to clamp down on record high inflation causing equally high living costs, for the coming weeks many are left with no choice but to take things on the chin.
On the grocery shopping front, one way people can save money is through loyalty programs.
Enter Coles, which recently announced that it is reintroducing its Flybuys member deals on select items to take a bit of the edge off Australian budgets.
According to reports, more than 20 items will see lower prices in the coming weeks, including staples such as yoghurt, chicken schnitzels, and juice.
A representative for Coles said this recent move essentially widens the number of items special rates moving forward.
‘These discounts on a wide range of products, from dinner essentials like RSPCA Chicken Breast Schnitzel… make it even more valuable to scan your Flybuys in-store at Coles during the weekly shop,’ said Coles Chief Executive of Commercial and Express Leah Weckert.
‘We have seen our customers turn to rewards programs in these hard times to help them save for anything from kitchen products to overseas trips.’
‘This new range of Flybuys Member Pricing joins our successful Dropped & Locked campaign in taking the pressure off Aussie families by reducing the cost of everyday items and getting the household budget to stretch further.’
For the next month, other products Coles shoppers could nab for cheaper include Coles Brand Scotch Fillet Steak and Pork & Beef 3-Star Mince Bolognese.
The retail giant also recently confirmed that it would be extending its Dropped and Locked price freeze program which was initially set to end on January 31.
Aussies can expect more affordable prices at Coles under the program until April for most items, while some reach until May and July.
Anna Lee, CEO of Flybuys, said the move would put ‘some power back’ into the ‘hands and wallets’ of around 8.6 million Aussies.
Meanwhile, rival Woolworths, whose discount offering on certain products lapsed late last December, moved to freeze the prices of around 300 summer staples as an incentive for customers.
It remains to be seen how Coles, Woolworths, and other retail giants will adjust moving forward considering some experts have forecast further interest rate hikes on the horizon for Australia — as high as 3.85 per cent by the end of 2023.
Experts have previously pointed out that moves such as Coles prove to be a silver lining for Aussie consumers as it spurs competitors to also offer attractive deals.
Key Takeaways
- Coles will reintroduce Flybuys member deals this week, slashing prices on more than 20 items for the next month to combat cost of living woes.
- The discounts include popular chicken schnitzels, yoghurt, and juice.
- The new deals are on top of Coles’ Dropped & Locked price freeze programs, which have other grocery items subject to special rates for a fixed period of time.
- Flybuys CEO Anna Lee said the move will help put 'some power back into our members' hands and wallets'.
‘I think… consumers will become more cognisant and aware of food and grocery prices. That’s going to encourage all… supermarkets to compete heavily on prices and promotion.’
So, what are your thoughts on this development from Coles? Do you think it would be enough to encourage you to shop more, or will you still keep a tight grip on grocery spending for the time being?
Share your thoughts with us in the comments below!