Kroger to slash prices on basics to compete for your dollars - ABC21: Your Weather Authority

Kroger to slash prices on basics to compete for your dollars

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FORT WAYNE, Ind. (WPTA 21) -

Grocery store stocks plunged Friday after Amazon announced it will buy Whole Foods for more than $13 billion.

The move comes just one day after Kroger executives decided to slash prices on foods like milk and eggs to remain competitive.

Just like when competing gas stations across the street lower their prices in a gas war, grocery stores lowering their prices to compete for your dollars is spurring a kind of grocery wars.

"I would say for most people the main determining factor would be price and selection. I shop here mainly for the selection," says shopper Ashley Xu.

"I do a big shop every week and then I have to run to the store multiple times because I always forget stuff. I have four kids and I do a daycare, so we've got lots to buy for. So price is a big deal. Yes, it's a huge deal," shopper Jessica Myers says.

To help entice people who shop based on cost, Kroger is slashing prices on those staples.

The company's CFO announced the move Thursday, after a second straight quarter of declining sales.

That's partly because the industry is changing.

"The old days you didn't see the drug stores having pizzas on sale and milk on sale where you have that today," Kroger District Manager Chris Gomez says.

He says Amazon’s purchase of Whole Foods will give the online retailer a brick and mortar presence.

Kroger, meanwhile, is expanding options for customers who prefer to shop over the internet by introducing Click List, where you order online and pick it up at the store.

"It's about the convenience, and our customers tell us that. So we watch what our customers do and we certainly listen to what our customers tell us," Gomez says.

And the future of grocery shopping may rest on the customers' demands for convenience and speed.

"I think that it's going to be simple, push a button and it's at your door. It's really changing a lot, especially with this new-age technology and all that stuff. I think it's going to be switching up. You push a button and it's going to be right there at your door," shopper Kiwana Collins says.

"Right now we are testing some things as far as the standpoint of delivery. Not in this market right now, but there is competitors out there doing that. So what does that look like for Kroger? Yet to come," Gomez says.

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