A man with a Migros shopping basket in front of a refrigerated shelf in a store

Migros is cutting the prices of 400 products

What will be cheaper now, Peter Diethelm?

Migros is lowering the prices of over 400 everyday products. Peter Diethelm, head of the newly launched Supermarkt Ltd, explains why – and what customers can expect next.

From
Kian Ramezani
Date
Format
Interview

Migros Supermarkt Ltd commenced operations in January. Have you got off to a good start?

Yes, and after the challenging preparations surrounding the founding of Migros Supermarkt Ltd, I am now looking forward to focusing on the operational work with my team. Our ­clear goal remains to better align Migros’ supermarket business across all ten regional cooperatives ­­and to join forces wherever it makes sense to do so. My team and I are highly motivated and want to show customers some initial results very quickly.

Your first visible official act is to reduce prices. Was that the plan?

Simplifying our supermarket business is not something we’re doing for our own sake. We ­have always stated that efficiency gains must be tangible for customers. It’s still early days, but the current price reductions are a first step towards fulfilling this promise. Due to inflation, prices have recently tended to move in only one direction: upwards. We want to counter this trend as well.

What products are affected and how much cheaper will they be?

Overall, we have reduced the prices of over 400 products. In addition to staple foods such as tea, bread, cheese and meat, the range also includes convenience items such as Farmer bars, Bircher muesli and custard slices, as well as an assortment of body care products. The price reductions vary and range between 3% and 20%. For example, a bottle of raspberry syrup now costs CHF 2.95 instead of CHF 3.70. Here we are passing on our own lower ­procurement prices directly to our customers.

What criteria were used to select the products?

It is important to us ­to focus on day-to-day necessities, above all. We want the price reductions to reach as many people as possible and make a difference in their wallets.

Will there be further price reductions this year? And what’s next for Supermarkt Ltd?

As I said, it’s still early days, but of course we are determined to continue working on our prices. At the same time, we want our customers to get more for their money. We are investing in the expansion and renewal of our store network as well as in simpler and clearer product ranges. In all our considerations, we consistently focus on the needs of our customers. This is the standard we want to meet.