This Popular Grocery Chain Just Promised To Slash Prices On 'Thousands Of Products'

In an economy where it seems as though prices don't stop going up, one grocery store has seemingly given hope to those looking for lower prices during their regular grocery trips. Kroger, the oldest grocery store in the United States still in business today, has pledged to reduce its prices in order to compete with strong, low-price competitors like Walmart and Costco. More specifically, the massive grocery store conglomerate which includes chains like King Soopers, Ralph's, and City Market (among others) intends to cut prices on thousands of products in the near future by cutting out middlemen for imported products and utilizing technology more efficiently to save the company money elsewhere.

This change expands on the price cuts Kroger rolled out last year under Interim CEO Ronald Sargent, who was responsible for lowering prices on over 1,000 Kroger products during his short tenure. These price cuts are being executed by the company's new CEO Greg Foran, meaning it's likely to be a longer-term endeavor by the company than some initially expected. "The reality is, the basket has to come down," Foran admitted (via Bloomberg). "And not everyone's basket is the same. It needs to be across thousands of products, and it has to be something that passes the commonsense piece with customers."

While these price cuts will certainly excite frequent Kroger shoppers who are quick to buy the latest items, the choice is also a good method for enticing new customers to consider switching to the store for their weekly grocery trips. Greg Foran compared the heated competition between Kroger and its various grocery competitors to a Formula One race, saying, "There's a lead group of cars that are doing a very good job. Our objective is to get out of the midfield and start lapping faster, make up the gap on the first-group cars and then ideally pass them."

Lowering prices is a major selling point, but it's not the only change Kroger plans on implementing in the near future. For one, Kroger plans on increasing its viability to new customers by opening up more locations across the country; 2027 is expected to see up to 80 new locations opened. Ultimately, the company hopes that these measures and more will lead people to become Kroger regulars who are dying to know all the secrets the store has to offer.