On May 15, in the afternoon, the President Gustavo Petro was grateful that Ara would lower its prices in order to combat the inflation. The president made a small invitation for other companies to join.
After the news, it didn’t take long for chain stores like the Éxito, Olímpica and Makro also joined the initiative. Since then they have started a ‘war’ of discounts.
The “Red Prices” in Olímpica, the “Insurmountable” prices in Éxito and “Owners of Savings” in Makro are the names that these chain stores gave to initiatives to counteract inflation.
However, several of the companies highlight that this type of aid to Colombians has been implemented for months.
(Keep reading: Tiendas Ara lowered the prices of more than 200 products to combat high inflation).
olympic
The ‘Red Prices’ in Olímpica.
Olympic Website
Olímpica, for its part, also announced a series of sales on more than 400 products. TOSome of the foods are: potato, onion, banana, tomato and carrot.
“The situation is a concern that affects us all, and the actions we take to overcome it are of vital importance. At Olímpica, our main objective is to provide comfort and well-being to our customers,” said Jimmy Char, Olímpica’s commercial vice president.
(Also read: Inflation in Argentina reached 108.8% annually in April; clothing and food on the podium).
Success
El Éxito said that the products that are included in the great offer are eggs and rice
Success said that The products that are included in the great offer are eggs, rice, oil, milk, fresh chicken, roast chicken, water and toilet paper.
“The offer of products with ‘Insuperable’ prices in all Éxito stores in the country seeks to lighten the pocket of Colombians, thanks to the immediate savings it generates. There are more than 500 products, a large part of them from the basic basket, which in value for money, they have the lowest cost on the market. 80% of these products are purchased from Colombian producers and suppliers,” said Jorge Jaller, vice president of retail, in a statement.
(Furthermore: Ministry of Finance: ‘interest rates could begin to drop in the second semester’).
Macro
The chain store is offering discounts from 20% to 50% off.
As reported Briefcase, other companies to join was Makro. “The multinational retailer reported that the ‘Owners of Savings’ initiative has been underway since February, through which it has offered discounts on more than 1,001 products from its department stores.”
The chain store is offering discounts from 20% to 50% in different cleaning products, vegetables, fish, among others.
(You can read: Why is Venezuela registering low inflation but no economic recovery?).
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They opened their first store in Pereira 10 years ago.
Courtesy of Tiendas Ara
Finally, Ara, the first to make the discounts. The products in which the offer is applied are eggs, rice, oil, beans, pasta, table chocolate, oatmeal, powdered milk, household cleaning products and personal hygiene.
“This selection of products will experience an average price reduction of 10%, although it may vary depending on the selected products, even reaching up to a 45% discount. In this way, a market that used to cost $200,000 can now be acquired for around $180,000 or even less,” Ara explained in a statement.
I thank Tiendas Ara for their commitment to reduce their prices. Products such as rice, eggs, oil, beans, pasta, table chocolate, oatmeal, powdered milk, cleaning and personal care, will decrease between 10% and 45%.
Invite more companies to join this initiative.
— Gustavo Petro (@petrogustavo) May 15, 2023
GERALDINE BAJONERO VASQUEZ
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