2004News

Supermarket price wars

While supermarkets were adjusting their prices upwards on a daily basis when the peso was losing value against the US dollar, the reverse has happened now that the peso has appreciated and, for the most part, the elevated prices are being maintained. But as supermarkets vie to attract consumers by being the store with the lowest prices, and with the peso’s continued upward trend, consumers are hoping for relief. Many prices were pegged to the rate of RD$55 to US$1 seen last summer. With the US currency now valued at approximately RD$30, the general public is hoping to encounter products on the shelves at considerable discounts. Listin Diario reports that many establishments, such as Plaza Lama, Supermercados Nacional, Bravo, La Cedena and hardware stores such as Popular, Hache, Americana and Almacenes Unidos, are publishing their before-and-after prices, in their attempt to woo consumers.