Hannaford drops prices amid growing competition
Hannaford Supermarkets says it is dropping prices to combat discounters, bulk stores and the changing habits of customers going to various stores for different items.
WGME reported the supermarket seeks to lower prices in departments where they most often compete with discount and bulk shopping stores.
The company did not quantify the discounts but said price reductions would be made throughout the year.
The announcement comes just before the opening of Maine's first Market Basket store, in Biddeford. Industry analysts told Mainebiz in an earlier story that entry of the discount grocer would eventually drive down prices at other stores as traditional grocers also face growing competition from stores like Walmart Supercenter, Target and drug stores like Rite Aid.
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