Aeon Co. said Tuesday it will cut the prices of the 1,700 items sold under its Topvalu line, or about 40 percent of its private brand products, by 10 percent to 30 percent as consumers are tightening their purse strings due to the recession.
The major supermarket chain operator will also introduce 500 new low-price items, such as bread, yogurt and detergent, under another line, Bestprice.
"We will aim for the lowest prices in every one of the areas where we operate," an Aeon official said.
The price cuts for the 1,700 items, to be implemented in stages at 2,000 Jusco and other stores run by its group firms, will be completed by the end of August, the company said.