We don't need to tell you that prices in supermarkets have never been higher. It's been a tricky couple of months for all of us, and it doesn't appear to be getting much better anytime soon. Whilst it's great to have good discounts, it's of course much better if they're fair and competitive.

That's why we are very pleased to report that it looks like the inter-supermarket competition is starting to heat up – and that means that prices could be dropping at a supermarket near you very soon!



It all started when Coles launched its unique 'Dropped & Locked' program back in August. The move saw more than a thousand different items, such as meat, eggs, bread, and pasta, among other things, given price protection from hikes (or 'price freeze', as it's commonly called).

Well, it looks like this had a very positive response from shoppers, as the supermarket has recently announced that it is officially extending the promotion – giving shoppers a tiny bit more peace of mind amid the high cost of living.



A Coles representative told a news source that it had received an 'incredible response' since introducing the program last year, adding, 'with the cost of living pressures, customers know they can rely on these locked prices at Coles each time they go shopping to help plan and manage their budgets'.

This decision could be a driving force in possible pricing wars between supermarket giants Coles, Woolworths, and IGA.



Consumer expert Professor Gary Mortimer told a news source that the traditional rivalry between grocery stores is likely to see promotions used to try and win customers over.

'We have a highly competitive food and grocery market here in Australia,' he said.

'I think as we move into 2023, consumers will become more cognisant and aware of food and grocery prices. That's going to encourage all four supermarkets to compete heavily on prices and promotion.'



Currently, Woolworths has said that it won't be extending its price freeze, but it has already launched its 'Prices Dropped for Summer' campaign, which has resulted in the cost of more than 300 products being reduced.

'We know cost-of-living pressures are being felt by Australian families,' said a spokesperson, adding: 'Throughout 2023, we will continue to work hard to help them save each time they shop with us.'



It looks like this will be an exciting time for shoppers, but do note that the supermarket aisles are probably going to get a bit more crowded in the coming weeks, as Professor Gary Mortimer explained that it's possible that the extension of promotion may lead to some 'panic buying'.

'It creates demand, and people don't want to miss out on a saving. I think it might encourage panic buying,' he explained.

He said that even though supermarkets must tell customers when the promotion will be ending, the fact that many Dropped & Locked prices are emblazoned on price tags may create the wrong message.
Remember, folks, your safety always comes first. To avoid this possible overcrowding and panic buying in supermarkets, we suggest that you shop from the supermarket closest to you and stick to your normal grocery list as much as you can.

That way, you'll avoid the crowds, save some money, and get the most out of your shopping trip.

Happy shopping, everyone!