Retailers across Long Island, New York, lowered their prices considerably after Lidl open new stores in the area, according to research from the University of North Carolina Kenan-Flagler Business School. In the first week of March 2020, Lidl prices were 44.9 percent lower than Trader Joe’s, 33.8 percent lower than Stop & Shop, and 39.6 percent lower than King Kullen prices.
After Lidl opened its new stores, Stop & Shop and King Kullen decreased their prices an average of 5.3 and 3.8 percent, respectively, and Trader Joe’s decreased prices by 4 percent. Other retailers such as Aldi, Target, Costco, and Walmart also lowered prices ranging from 8 to 15 percent.
“Lidl’s entry does effectively increase the price pressure in the new market, as prices at Lidl were substantially lower compared to competing retailers on Long Island in head-to-head comparisons,” said Katrijn Gielens, author of the study.
Related: Lidl Moves Ahead with NC Store Opening; Lidl Opens Maryland Distribution Center.
from Specialty Food News https://ift.tt/3iPBpvu
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