Food City Launches Low-Price Lockdown
ABINGDON, VA (Tuesday, June 28, 2011) – In response to rising food costs, Food City has rolled out a new retail price model. Designed to alleviate fluctuating prices for shoppers, Food City’s Low Price Lockdown will “lock down” retail prices on 10,000 items through Labor Day, regardless of the wholesale cost. Leveraging its relationship with local growers and using its buying power with national suppliers, Food City has negotiated pricing on everything – from Bush’s Baked Beans to Minute Maid Orange Juice to Ultra Downy Fabric Softener – in order to pass along savings to shoppers.
“Times are tough, and we’re committed to doing everything we can to keep costs down for our loyal customers,” said Steve Smith, Food City president and chief executive officer. “Low Price Lockdown means shoppers can count on us for consistent pricing all summer long.”
Another 90-day period will begin after Labor Day with prices on many seasonal items locked down through the holidays.
In conjunction with the new pricing model, Food City just launched a dedicated microsite to explain
the program and other ways to save, including downloadable coupons for shoppers. The new microsite is located at www.lowpricelockdown.com.
Food City’s microsite features many of the items included in the 90-day price lockdown. The site highlights Food City’s price vs. the price of the item in a competitive store. There is also an area where several of the weekly advertised sale items are featured with their corresponding prices. A third section shows compare-and-save items available in the store – Food City does the price comparisons so its shoppers don't have to.
The footer of the new site includes a link to the new "Lockdown-Speed Stacker" TV commercial http://www.youtube.com/watch?v=PkiGCU7K-jY with a button for shoppers to send comments to Food City with their input on the campaign and to access a downloadable coupon link for further savings.
“We want to hear from our customers, because our business is relationship based,” Smith said. “No one knows our stores better than the folks who shop with us. Their feedback is invaluable.”
Programs like Food City’s Fuel Bucks Rewards, Milk Money, Pharmacy Discount Club and the ValuCard offer ongoing savings incentives to shoppers, in addition to the new Low Price Lockdown.
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Headquartered in Abingdon, Virginia, K-VA-T Food Stores operates 105 retail food outlets throughout the tri-state regions of Southeast Kentucky, Southwest Virginia and East Tennessee.