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What Lidl is doing to help customers on the east coast during the cost of living crisis
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By Nithya Bose in Business News, posted June 30, 2022
Lidl has lowered the cost of more than 100 grocery products in all of its stores in nine east coast states.
Earlier this month, the supermarket giant launched a price-cutting campaign comes as supply-chain inflation has resulted in substantial hikes in food costs for many businesses.
It has impacted basics like meat, wheat, coffee, grains, frozen prepared foods, and other important household supplies.
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CEO Michal Lagunionek said: "As many families contend with rising prices due to inflation, we hope to ease their financial burden at the checkout counter by investing even more to lower our prices.”
"This price-cutting drive is part of Lidl's ongoing commitment to offer the best value in every community we serve."
The price reductions are expected to last through August.
Customers can anticipate savings of more than $50 on the basket of goods featured in the summer promotion.
Retailers of groceries have been making an effort to assist customers who are concerned about sticker shock by offering targeted specials and improved loyalty program perks.
Aldi US, a competitor of Lidl, restated its commitment to offering cheap costs last month, promising to continue to lead the market in food pricing throughout its 2,150 stores and 38-state market region.
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As per Chicago-based consumer data specialist Numerator, supermarket costs increased 13.2 percent year over year during the four weeks that concluded on May 15 compared to a pace of 7 to 8 percent at the beginning of 2022.
Pricing increased by 10.1 percent for health and beauty products and 15.8 percent for domestic goods.
Back-to-back editions of USA Today's 10 Best Readers' Choice Awards ranked the retail chain company as a top 5 US grocer.
Lidl has around 11,550 outlets in 32 countries and employs over 341,000 people worldwide.
They provide clients with high-quality fresh fruit, meat, bakery items, and a large range of home products at rock-bottom costs.
Source: Supermarket News
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