Coles is lowering the prices of hundreds of products in-store and online as the competition to win customers over rivals Woolworths and Aldi intensifies. The supermarket giants have been announcing a raft of discounts in the last few weeks.

Coles has revealed plans to cut prices on 307 winter essentials and household staples across meat, bakery, pantry and dairy. It’s part of its latest Down Down campaign, which will offer an average saving of 19 per cent for 12 weeks from Wednesday, June 4.

It comes just weeks after Woolworths kicked off the price-slashing competition, lowering the price on 400 items until 2026. Aldi has also thrown its hat into the ring, with CEO Anna McGrath telling Yahoo Finance it “will not be beaten on the cost of your weekly shop”.

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Coles’ winter price reductions will be on top of the products currently on Down Down pricing across stores. From Wednesday, customers will be able to shop an average of 588 discounted prices until the end of August.

“This winter we’re investing in bringing prices down to deliver immediate relief at the checkout to our customers,” Coles chief commercial officer Anna Croft said.

"Whether it’s a leg of lamb roasting in the oven, a freezer full of batch-cooked meals, or a simple stir-fry to feed hungry mouths, Coles is helping households make meals they love at lowered prices.”

Coles has also launched its first Flybuys Activate Bonus Value Points offer, which will give customers 10 times the points on more than 800 items in June. It also has a range of bonus points offered on selected Liquorland products.

Croft said this will allow customers to “supercharge their points balance” and help them accumulate the 2,000 points needed for $10 off their shop faster.

Woolworths, Aldi competition heats up

Woolworths, Australia’s biggest supermarket chain, announced it would be lowering prices on nearly 400 popular products until at least 2026 last month.

The supermarket giant claimed families spending $150 on their weekly shop could now save an average of around $15 a week when buying the discounted products, which include chicken schnitzel, greek yoghurt and frozen berries, along with essentials like flour, bread, rice and nappies.

Woolworths CEO Amanda Bardwell said the move marked the start of a “real, tangible change” for customers and was more than short-term relief.