Tesco Lotus slashes prices
The local operator of Tesco Lotus hypermarket chain is cutting the prices of essential fresh foods by 10-50% for six weeks to revive consumer spending.
Prices of more than 100 fresh food items including meat, seafood, vegetables, fruit and eggs are being reduced by up to half to help consumers during the difficult economic situation.
Sompong: Luring back customers
The campaign began yesterday at Tesco Lotus hypermarkets nationwide and will run for six weeks.
Sompong Rungnirattisai, chief commercial officer of Ek-Chai Distribution System Co, the operator of Tesco Lotus, said consumer purchasing power was gradually improving but had not reached the point it should be.
The frequency of visits to Tesco Lotus stores has dropped, with shopping mostly done when the stores have promotions.
"To respond to consumer concerns about the rising cost of living, Tesco Lotus is making a historic move to cut fresh food prices," Mr Sompong said.
For example, the price of one kilogramme of mangoes will be reduced to 59 baht from 75 baht, while a medium-sized sea bass is now 82 baht, down from 115 baht.
Apart from hypermarkets, the company will offer special fresh food prices at other retail formats such as Tesco Extra and Talad Lotus in the future.
The company expects the special offers to draw back customers to shop at Tesco Lotus hypermarkets every day, as well as help boost sales of fresh food by 30%.
Mr Sompong insists fresh products with lower prices are still good quality, as the company buys direct from farmers.
Additionally, the company has earmarked 2.5 billion baht to open a new distribution centre in Surat Thani province in July to support its growing business in the South and increase its logistics efficiency.
The new distribution centre will support the hypermarket chain's growing business.
It will serve nearly 200 Tesco Lotus stores in 11 southern provinces from Surat Thani to Satun.