The comment comes a day after rival Aldi made a similar price pledge.
IDL has promised to reduce prices in the kirana market after promising to keep prices low, as inflation lowers the household budget.
Christian Hartnagel, CEO of Lidl GB, said in a statement: “As inflation continues to rise, I want to assure each of our customers that we stand firm in our promise to be. The destination for the lowest grocery prices in the market. ,
The comment comes a day after rival Aldi made a similar pledge. UK CEO Gyle Hurley said his business will “always offer the lowest prices for groceries, no matter what.”
German discounters are touting their bargain basement prices when inflation rises. Prices are rising by more than 5% throughout the economy and around 3.5% in the supermarket sector. Think tank Resolution Foundation has said 2022 will be a “year of contraction” as families face a £1,200 jump in annual costs from April.
Lidl and Aldi’s statements put pressure on the “Big Four” rivals to make similar price promises. Sainsbury’s and Tesco begin reporting Christmas this weekend.
Hartnagel’s statement came after Lidl reported strong Christmas trading. The retailer said sales were up 2.6% last year and 21% over 2019 levels. Exact figures were not given.
“Despite the ongoing challenges with the pandemic, customers continue to find ways to celebrate this Christmas,” Hartnagel said. “Our high quality, low-priced festive range proved to be a hit, helping us achieve record Christmas with footfalls and sales over the past two years.”
Last week market research firm Kantar said Brits spent £11.7 billion in supermarkets in December, slightly below the 2020 bumper total. Spending increased in 2020 as Brits splurge on food and drink during a lockdown Christmas.
Lidl claimed to have won £21 million worth of business from competitors in December as buyers switched for value. Grosser said sales of lamb were up 21% year-over-year, while sales of Christmas pudding were up 23% and wine by volume was up 24% from last year.