Tesco has moved to consolidate its leading market position in the Irish Republic by announcing price cuts on 200 items. The reductions, covering groceries, household goods and cosmetics, range from 3% to 23%, and are claimed to be the largest ever undertaken in the sector.
Superquinn immediately responded by saying it "will match competitor prices on a range of fresh food and groceries". However, there was no reaction from Dunnes Stores. Latest market share figures show it in second place at 21.9% against Tesco's 24.1%. The price cuts, which include staple items such as bread, milk, butter, potatoes and chicken, would be sustained, said Tesco communications director Dermot Breen.
"Irish supermarkets must ensure they keep inflation low in the sector and maintain low prices as long-term reductions for our customers."
The Irish Farmers' Association welcomed the price cuts provided they were funded by the supermarkets. RGDATA, the independent grocers' organisation, called them a "gimmicky promotion" and advised consumers to check prices of other products were not being increased to pay for it.

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