Retail News Update

Both Tesco and Carrefour in Thailand have launched aggressive price cutting campaigns. Tesco Lotus said it would cut the prices of 500 products by an average of 7.5% – equal to the current rate of inflation.

The price cuts are part of its latest “Roll Back” campaign, touted as an effort to help customers save money on products they really need and buy every week. “We’ve chosen 500 products based on their high basket penetration and cut their prices by 7.5% on average,” said Tesco Lotus director and chief marketing officer Gwyn Sundhagul. “The move is an effective solution offered by the company to help people who are suffering from economic difficulties and high living costs.” Meanwhile, Carrefour has announced a joint promotion with Unilever, called the “Smiley 4″ campaign. From now until July 24, every THB379 (USD11.95) spent on specific Unilever products at Carrefour outlets will allow customers to select one of seven gifts worth up to THB239 (USD7.55).