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Extra Starts a Price War on Christmas Items
On the eve of the holiday season, the Norwegian supermarket chain Extra is entering the front of the price war, lowering the prices of popular holiday products. From next Monday, customers will be able to take advantage of lower prices on a wide range of products, including typical Christmas items.
Pioneering Extra Steps in Price Discounts
Extra was the first supermarket chain to decide to significantly reduce prices. The chain's director, Håvard Jensen, announces that these significant price cuts will cover a wide range of products and will last until the end of the year. “This is an unprecedented move in the market that will certainly trigger a reaction from the competition,” comments Jensen.
Offer Details – What and How is Cheaper?
As part of the discounts, Extra offers prices lower by up to 32% on some products. Discounted items include traditional Norwegian Christmas foods such as pinnekjøtt, tynnribbe, lutefisk and Christmas sausage. The list of discounts includes both own brand products and those from other manufacturers.
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Market and Competition Reaction
Other major retail chains such as Rema 1000 and Norgesgruppen have not yet provided specific information about their pricing plans, but are also expected to take action in response to Extra's move. Experts predict that this is the beginning of fierce price competition in the pre-Christmas period.
Expert Perspective: Why Is This a Good Strategy?
Ivar Fredrik Pettersen, an analyst from Alo Analyse, emphasizes that such activities are beneficial for retail chains because they extend Christmas shopping for a longer period and generate a positive brand image. “Price reductions are not only savings for customers, but also an effective marketing strategy for the chain,” says Pettersen.
Extra's announcement of price reductions on Christmas food products becomes an important point in the calendar purchasing behavior of consumers in Norway. How the market and other chains will react will have an important impact on price formation in the coming weeks, especially with Christmas approaching.
