Rimi implements new pricing policy throughout the Baltic States

2010 m. Balandis 13 d.
Commencing 13 April retailer Rimi is implementing a new pricing policy – this provides price reductions for more than 1,000 items bought by customers on a daily basis. Along with the price reductions in the Baltic States, Rimi is also launching an advertising campaign A New Era to present the new Rimi approach to price setting.
According to Edgar Sesemann, Rimi Baltic Board Chairman, even though the retail market situation and shoppers’ behavior differ slightly in each Baltic State, there is a clear common picture – the incomes of around 80% of Baltic States citizens were reduced significantly last year. Hence, more than 70% of consumers spent much less money on food and other goods.
“Changes of the customers’ shopping habits and the contents of their shopping baskets induced us to implement some changes in Rimi chain and offer our customers the most important goods for lower prices,” remarked Edgar Sesemann, Rimi Baltic Board Chairman. “Today we start lowering prices for prices for 1,000 most popular goods and food products. Prices will decrease for milk and dairy products, bread and flour, meat and meat products, fruits, vegetables, cheese, fish, cereal products, coffee, tea.”
According to Tony Holmberg, Rimi Lietuva Country Managing Director, in Rimi stores the customers will find clearly marked items with reduced price. It is being compensated by Rimi Lietuva which refused higher mark-ups.
“By introducing our new pricing policy we seek to make goods of the most popular brands affordable to people who save more. Rimi Lietuva already has decreased prices during the last year in several steps. Lowering prices this year is a natural step in order to make them even more attractive to customers. In this way Rimi Lietuva is reacting to customers’ needs and improving every day assortment, prices and services,” said T. Holmberg.
The income declined for 80% of Lithuanian residents last year, attests a survey conducted in the Baltic States by the market research organization AC Nielsen. Latvian residents experienced the largest income decline with almost 90% having income levels decreased. Although the situation in Estonia is a little better, 70% of the population could not avoid the income decline.
The reduction in income seriously affected people’s purchasing power. Following the fall in income levels, people in all three Baltic States spent much less money on food and other goods last year. Due to changes in the situation Lithuanian residents had to rethink their spending. According to the research, almost 70% of the Lithuanian population had spent less.
Latvians reduced their spending on every day needs the most – 80% of respondents admitted that they spent less than before. 70% of Estonian likewise Lithuanian residents said they have reduced spending on various purchases. Around one third of people in the Baltic States switched their usual shopping locations to others, for more than 50% of the cases the reason being the search for better prices and promotions.

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