Dear Valued Customer,
We know how much you love Woolies quality and over the last few years we have been on a journey to invest in the prices of your Woolies favourites, so you can enjoy the quality you expect at the value you want. The COVID-19 pandemic has certainly emphasised this need and, because of the impact it has had on the economy, your life and the lives of your families, we have accelerated our price investment journey. Our intent is to ensure we remain accessible, without compromising on our quality.
I am therefore very pleased to announce Woolworths’ commitment to invest R1-billion in our prices over the next two to three years, with a R750-million investment planned in the Foods business. Through this effort, we want to ensure that we can provide Woolies Exceptional Quality™ products at new lower prices, every day.
We have focused on identifying additional efficiencies in our business as well as in our value chain, to find opportunities to be more effective and cut costs. We have worked very closely with our suppliers and partners to make these sustainable and mutually-beneficial operational improvements. These efficiencies will help us help you even more and we will be passing the majority of these savings on to you.
The first phase of this journey begins with a R250m price investment planned in our Foods business and R250m in our Fashion business for this financial year. The investment is being focused on the most popular Woolworths products.
In Foods, this includes our entire fresh chicken range, such as all whole and portion chicken packs, excluding Easy to Cook, crumbed and marinated chicken. While this investment will initially be most visible in our poultry products, you can also look forward to more promotions on everyday basics across Groceries, Household and Personal Care ranges.
In Fashion, the investment will be in selected key wardrobe essentials. This commitment will deepen Woolworths’ value promise to you, while still offering the quality clothing products for which our brand is known and loved.
Please look out for our key new lower price messaging on our marketing materials and in store. Our price investment journey over the next three years will enable us to offer the Woolies Exceptional Quality™ products you love at more accessible prices.
I would like to take the opportunity to thank you sincerely for your support during this particularly challenging year. I truly believe that together, we will make a difference.
Woolworths SA, Chief Executive Officer