Coles drops and locks prices on more items amid cost-of-living crisis

A former Coles Online finance executive has admitted stealing $1.9 million.

A former Coles Online finance executive has admitted stealing $1.9 million. Photo: AAP

Coles says it has doubled the number of products it has discounted, while Woolworths says it will continue to offer cheaper grocery staples through summer.

The latest price drops in the “second phase” of the Dropped and Locked commitment will run from January 18 until April 11.

In October, 150 household favourites dropped in prices, with the reduced prices being locked in until January 31.

Some of the products reduced in October will also remain at the lower price point until April 11, including free-range chicken, beef sizzle steak and no-hormone beef sandwich steak.

Coles stated that prices will drop in coming days for products from brands such as Kellogg’s, Kleenex, L’Oreal, Morning Fresh, Gillette, Uncle Tobys and Coles Own Brand.

Leah Weckert, the company’s commercial and express chief executive, said the reduced items will help Australians save while entertaining over the summer, getting back to school and planning healthy meals.

“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 honouring our commitment to helping Aussie budgets go further,” Ms Weckert said.

“This latest round of Dropped and Locked doubles the number of products compared to the first phase of the campaign and we’re certain this extension will save Aussies millions of dollars over the coming months.”

coles profit 2020 virus

Coles has dropped the price of even more items.

Some of the Dropped and Locked products include:

  • Coles RSPCA chicken drumsticks, was $5 now $4.50
  • Coles pork & beef bolognese mince 500g, was $6.50 now $6

  • Coles lamb loin chops, was $28/kg now $23/kg
  • Dolmio Extra pasta sauce bolognese 500g, was $4 now $3

  • Uncle Tobys breakfast oat bakes 260g, was $7 now $6.30

  • Kellogg’s corn flakes gluten free, was $7 now $5.95

  • Somat Excellence dishwashing tablets 45pk, was $35 now $21.

In addition to the reduced prices, Coles said it will still offer thousands of specials every week.

The company also conducted a survey with more than 7500 Coles customers.

The survey found 82 per cent of customers are making changes to account for the rising cost of living while grocery shopping, and half of Coles customers are buying more discounts.

Woolworths reduces price of summer staples

In June, Woolworths introduced its Price Freeze program to ensure the price of nearly 200 products remained the same through to the end of 2022, despite inflation.

Although that offer is over, Woolworths recently reduced the price of more than 300 ‘summer grocery staples’ as part of its Price Dropped campaign, in addition to the 5000 specials being offered every week.

A Woolworths spokesperson told The New Daily while that Price Freeze program has finished, the supermarket is focused on “maximising value for our customers”, adding that many of the products from the program are at the “same low price”.

We will continue to review each cost increase request from our suppliers on a case-by-case basis, working together to sensitively manage market-wide inflationary pressures,” the spokesperson said.

Woolworths’ Prices Dropped for Summer program will run until February 21.

Aldi was contacted for comment but did not respond, but the discount supermarket chain does announce when it permanently drops the prices of its cheapest products here.

Stay informed, daily
A FREE subscription to The New Daily arrives every morning and evening.
The New Daily is a trusted source of national news and information and is provided free for all Australians. Read our editorial charter.
Copyright © 2024 The New Daily.
All rights reserved.