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Woolworths slashes price on more than 450 items to help with cost of living

It's part of the supermarket chain's winter price program.

Woolworths is slashing the price of hundreds of items to help Aussies with the cost-of-living crisis. From Wednesday this week, shoppers will see the cost of the everyday essentials fall by an average of 20 per cent.

It's part of the supermarket chain's winter price program, which ends in late August. It comes after Woolworths CEO Brad Banducci recently admitted he would let the supermarket make less profit if it meant customers weren't being pushed to the brink.

Woolworths chief commercial officer Paul Harker said the more than 450 products that will be cheaper for the next few months have been specifically selected to help Aussies through the colder months.

Insert of Woolworths sign next to a range of products that will be cheaper
Woolworths is slashing the cost of more than 450 items as Aussies head into winter. (Source: Getty/Woolworths)

Do you have a story? Email stew.perrie@yahooinc.com

“We understand the pressures our customers are under and the need to budget for hearty, warming meals and grocery essentials for their families,” he said.

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“Our Prices Dropped for Winter program is designed to give our customers certainty on the key products they’ll be buying this season to help their budgets go further.”

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Woolies has revealed this latest winter program begins on May 29 and will last until August 27.

Woolworths has periodically dropped the price of a range of products expected to be popular for the coming three months.

Back in March, the supermarket did a similar discount program for Autumn, which saw laundry products, meat and kids items fall by an average of 18 per cent.

In October last year, the company lowered the price of its half-leg hams to $8 per kg, its lowest price since 2014, and in November, it dropped the price on 26 lamb products by 20 per cent, with the price drop running from November 8 to December 27.

Woolworths made $1.62 billion in profit last year and Banducci recently defended his company making so much money while Aussies were struggling.

But he said profits aren't the only objective and he would lower prices if he thought it was the "right thing" for customers.

“We will of course make those decisions,” he said.

“We are very sensitive on things like the price of milk, what we would call lunch box items.”

While Mr Banducci suggested the company would not chase profits before all other considerations, he defended the retailer’s results and said the business tried to get “the balance right” between its suppliers, employees, customers and Woolworths shareholders.

“It’s always a balance, we’re not saying we always get it right,” he said.

- with NCA Newswire

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