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Posted on November 19, 2008 4:56 AM

Wegmans to cut prices to ease economic woes

Noting customers' concerns about the economy, Wegmans decided last week to cut prices on hundreds of items, hoping to help consumers save money.

"This certainly seemed like the right time to make a move," said Jo Natale, director of media relations for Wegmans.

Prices have been cut by 10 percent to 30 percent on individual items, and should save the average family between $40 and $60 a month, she said.

All 72 Wegmans stores throughout the East Coast, including the State College location at 345 Colonnade Blvd., will implement the cost cut, according to a Wegmans press release.

"The emphasis is on the basics -- food people need to get dinner on the table and on baking staples for the holidays," Natale said. "For individuals, like college students, some of these items are those you would buy normally."

Natale said the price reductions would be extended throughout the store's inventory and not just on Wegmans brand products.

"This is not a promotion," she said. "We don't have a crystal ball, but we're going to keep prices low for the foreseeable future."

The decision to lower prices will be especially beneficial for those who are having trouble making ends meet, said James Kurre, associate professor of economics at Penn State Erie.

"Will it help people? Absolutely. This is good news," Kurre said. "This will benefit everyone who shops at Wegmans, and people who are at the bottom of the income spectrum especially."

Kurre said the lower prices will also be advantageous to students.

"For those who do their own shopping, it will definitely help," he said.

Some on-campus students like Brendan Smith (freshman-business administration) don't see the move as particularly helpful.

"I don't even know where Wegmans is," he said, adding he does most of his grocery shopping at McLanahan's Student Store, 414 E. College Ave. "If it's out of the way, it won't really help much."

On the other hand, Lauren Selker (junior-supply chain and information systems), who lives off campus, said the lowered prices will attract cost-minded students.

But the competition isn't worried. At McLanahan's Student Store, manager Grace Mehalick shrugged off the impact of Wegmans' lowered prices.

"We gear towards students," she said. "They're no cheaper than us."



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