Seven percent more fruit and vegetables sold Migros remains self-critical - low-price strategy booming
Migros is seeing initial success with its new low-price strategy: according to President Ursula Nold, sales of fruit and vegetables have risen by seven percent. But she remains self-critical.
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- Migros has launched a low-price initiative to compete with discounters and win back customers.
- The sale of certain areas and specialist stores is taking place because specialized providers dominate in areas such as tourism, sport and electronics.
- In retrospect, Migros admits that strategic changes should have been implemented earlier.
According to President Ursula Nold, Migros is achieving initial success with the recently launched price offensive for fruit and vegetables. "The quantity sold in the last two weeks was seven percent above the previous year's level," she said in an interview with Tamedia newspapers published on Monday.
This shows her that customers understand and appreciate the new Migros strategy. The retailer launched a low-price initiative at the end of October with the aim of defying the discounters and winning back customers. "Being a price breaker is part of Migros' DNA," said Nold in an interview about the strategy.
The fact that various Migros divisions and specialist stores are being sold at the same time has to do with changes in shopping behavior. "We are convinced that we should not continue to operate in niches where there are strong, Europe-wide specialists, in tourism, sport, electronics, etc."
Looking back, however, she reproaches herself for "being too slow". "We should have done what we are doing today three years ago. But there was coronavirus, and that alone was a big challenge."
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