Aeon Announces Price Cuts of Up to 23%

Reuters file photo
A customer uses a shopping cart bearing the logo of Aeon Co. at its supermarket in Tokyo in 2009.

TOKYO (Jiji Press) — Japanese retail giant Aeon Co. has announced price cuts of 2% to 23% for 28 items including food in its “Topvalu” private brand series, effective from Wednesday.

The price revisions affect mayonnaise, vegetable oil, pet products and other items sold at about 10,000 stores nationwide, including Aeon and Maxvalu outlets, according to an announcement made Tuesday.

Aeon hopes to shore up demand, which has been dampened by consumer frugality due to persisting inflation.

The latest move followed two rounds of price cuts for Topvalu products last year.

Among the 28 items, a popular 400-gram mayonnaise product saw its price fall to ¥257 from ¥267, and a 900-gram edible oil product to ¥267 from ¥300. The price dropped to ¥547 from ¥602 for a 6.5-liter pack of paper-based cat litter, which can be flushed also into water-saving toilets.

Supermarket chain Tobu Store Co. also announced on Tuesday that it will cut prices by up to 40% for 253 items, including frozen food products and beverages, in a campaign running throughout April at 60 stores in the Tokyo metropolitan area.