Jewel's Pricing Isn't Saving You Anything
By Chuck Sudo in Food on Jan 22, 2010 4:40PM
Interesting little story in today's Sun-Times about how Jewel boasting they were slashing prices on thousands of items last spring. Prompted by announced higher-than-expected quarterly profits by Jewel's parent company Supervalu, New York-based market analysts Jeffries & co. conducted a market-basket survey and found that Jewel's prices actually increased 6 percent. the survey measured fast-selling items like milk, bread and eggs, as well as perishables, and found the average basket value of groceries at Jewel-Osco stores in January was $163. Jeffries & Co. also found Jewel to have fewer promotions.
A statement released by Jewel in response to the survey said that they would continue giving shoppers lowered prices "up to 20 percent on thousands of key staples throughout its stores."
Jewel's prices jump 6%, analyst says [Sun-Times]