Dive Brief:
- Kroger is promoting a number of $10 meal options for families of four as part of a holiday savings event running until Dec. 24, the grocer announced Monday.
- In addition to five family meal options, the grocer is offering discounts on packaged meats, cheese, crackers and potato chips as well as ingredients like sugar, eggs, baking mixes and cooking sprays.
- The announcement coincides with holiday shopping period discounts offered by Target and Walmart and comes as more grocery and retail giants launch savings opportunities for inflation-cautious shoppers.
Dive Insight:
Kroger has fared well against inflation this year, with Q3 earnings showing the grocer generated $34.2 billion in sales, up from $31.9 billion during the same period in 2021. The grocer’s push to promote affordable at-home eating has been a key ingredient in this success, and Kroger is continuing to promote value as 2022 comes to a close.
Kroger’s family meal options, all totaling around $10, include basic ingredients as well as Kroger private label items. The meals listed in the press release consist of an egg and sausage breakfast with fruit and toast; grilled cheese lunch with tomato soup and carrots; spaghetti and meatballs with Private Selection pasta; Kroger’s Home Chef rotisserie chicken with potatoes and frozen vegetables; and Home Chef ready-to-heat pizza with Kroger’s Mediterranean-style chopped salad kit.
“This month alone, we will offer more than $360 million in savings, ensuring our customers have all the fresh and festive food they need to make their holidays memorable," Matt Meyer, Kroger’s vice president of pricing and promotion, said in the announcement.
The grocer extended its savings to fuel with shoppers receiving double fuel points on gift card purchases. In addition, members of Kroger Boost, the grocer’s e-commerce membership program, will get 5X Fuel Points on Fridays with a digital coupon.
Grocers have tried to adjust their merchandising and promotions around at-home eating as food prices have increased this year. Inflation is slowing down, data from the Bureau of Labor Statistics shows, but the food-at-home price index still rose 12% in November, marking yet another month of double-digit year-over-year increases.
To ease the pressure off consumers, a number of retailers have adopted holiday savings opportunities. Walmart began its discounted meal options in November, prior to Thanksgiving, and will keep the offering going until Dec. 26, according to a recent email announcement.
Like Kroger, Target also announced a holiday dinner offering for four consisting of a 6- to 10-pound ham as well as sides and dessert for $25. The retailer is also promoting its selection of $5 sides as well as an assortment of holiday meal grocery items for under $10 available online and in-store.
