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Wegmans cutting prices- and profits- to fight online sales

Wegmans cutting prices- and profits- to fight online sales

March 20, 2017 08:15 PM

Grocery chains, including Wegmans, are losing profits as they fight to keep customers from growing online sales.

According to USA Today, prices of supermarket items declined last year by 1.3% for the first time since 1967.

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While that may be good news for shoppers, it is bad news for businesses.

The report said that Wegmans recently lowered its prices on dozens of items, including beef, dairy, and eggs.

Wegmans executives tell the paper they had no choice in order to stay competitive. 

WHECTV

Copyright 2017 - WHEC-TV, LLC A Hubbard Broadcasting Company

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