Groceries could soon be getting a lot cheaper after Woolworths joined the chorus of supermarket groups in announcing it will reduce shelf prices on thousands of items to try to lure customers away from discount stores like Aldi.
The announcement made yesterday, follows comments by Woolworths' CEO Michael Luscombe that retailers need to cut prices or face poor sales figures.
Earlier in the week, Coles also said it would be standardising prices across its stores.
Woollies launched a new commercial last night, which said that 3500 grocery products had been discounted over the past three months, adding: ''That's just for starters.''
Woolworths achieved a $1.8 billion net profit result in 2009.
