In light of the success of Coles' Down Down campaign, fellow supermarket giant Woolworths has announced that hundreds of its best selling products will have their prices cut by up to 33 percent.
On average, Woolworths customers will find between 40 and 50 Every Day Value prices in every supermarket aisle, with discounted products including MSA Australian Beef, sliced and shaved ham, Tip Top bread, Western Star butter, Arnott's Multipacks and International Roast Coffee.
"While we know that Woolworths is consistently cheaper than Coles on a comparable basket across the store, we are constantly looking for new ways to offer our customers ways to save," said Tjeerd Jegen, managing director of Woolworths supermarkets.
"The hundreds of Every Day Value price cuts that we are launching are just the beginning of our commitment to delivering more savings every day on essential family items. These prices will stay down for at least six months, and we have even more great savings in store for our customers – every day."
The new campaign is very similar to that of supermarket rival, Coles, which added 40 new products to its Down Down range last month, including iconic brands like Vegemite, Cornflakes and Milo.
Woolworths insists it's not playing copy-cat, with a spokesperson telling Mumbrella, "We play our own game."
A statement issued by Woolworths says the campaign was prompted by consumer feedback which found that extra savings at the checkout are a top priority.
"Our customers have told us that finding savings in their family budget is more important than ever. It’s our job to make life easier for our customers, every day, by making sure they are saving on the essential items that they buy most often," Jegen said.
Only time will tell if Woolworths cops the same bad press that Coles has for its price-cutting efforts.
While consumers might enjoy cheaper shopping bills, food producers and the Australian Food and Grocery Council have criticised Coles for favouring its own private-label products over its suppliers and not supporting Australian farmers.
But according to The Land, Woolworths will be absorbing 100 percent of the price reductions for meat and produce, but discounts for packaged groceries will be funded by the suppliers, who wil enjoy more shelf space in anticipation of greater volumes of their products being sold.