Leading supermarket chain operator Aeon Co. will reportedly cut the prices of a wide range of its Topvalu brand products in a bid to stimulate spending by consumers who have been increasingly tightening their purse strings.
Sources said that in the initial phase of the new pricing strategy, Aeon is lowering prices on 100 items, mainly food products and daily necessities, by an average of 18 percent and by a maximum of 25 percent at 2,000 Jusco and other group stores, effective Tuesday.
The price of canola oil will drop to ¥328 from ¥358, while a pack of 12 rolls of toilet paper will go for ¥298, down from ¥328.
If the price reduction stimulates consumer spending, Aeon will lower prices on 1,000 items, or one-fifth of all Topvalu brand products, the sources said.