Fresh Market announced a new initiative yesterday. Speaking to media at The Villages at Coverley grocery were Group Financial Controller, Kirk Smith and Accountant, Latisha Moore.
Management of one local supermarket has decided not to increase any prices during the month of July.
Fresh Market Grocery, located at The Villages at Coverley has embarked on this initiative as it continues to put the customer first.
Just last month, Finance Minister Christopher Sincker announced several austerity measures during his presentation of the Financial Statement and Budgetary Proposal, aimed at helping government rein in the deficit.
Fresh Market did not turn a blind eye to the public outcry as many fear a drastic hike in prices with the introduction of a two percent levy on all foreign exchange transactions, the eight percent increase in the National Social Responsibility Levy and a rise in the excise duty on fuel.
With the July 1st date for the implementation of these new measures approaching, Group Financial Controller, Kirk Smith, said that while Fresh Market Grocery respects the position of government as it relates to the levies, a decision has been made not to increase any of their prices for that month.
“We will not be increasing our prices based on all our new purchases from our local suppliers and overseas vendors for the month of July. At the end of July, we will review the initiative and see how well it has been received by customers and if need be, we may very well extend it for another month into August,” he told members of the media.
According to Smith, this will allow a transition period as customers adjust to the new pricing structure.
The Financial Controller is therefore encouraging other retailers to follow the Fresh Market Grocery initiative. He however admitted that it will not be an easy step for many, but stressed that the consumers should be the main focus of any business.
“Each one of us, wherever we work are consumers at the end of the day. When taxes are increased it always impacts the customers pockets. Right now, what has happened is that persons spending power has been reduced because of the taxes. We are doing our bit to help our customers and I am sending this challenge to other retailers.”
“There are some that have announced their increase in prices come July 1st. Don’t do that, help our fellow Barbadians by not raising prices initially – help them get accustomed to the transition… Fresh Market opened in November 2016 and we started to see a positive trend in sales from inception. There are other supermarkets across the island opened for decades and I am sure that they can all handle absorbing this tax in the interim, to give the public time to adjust,” he said.
Smith added that Fresh Market will also continue its weekly programmes, including Tuesday’s BARP member discounts and the 20 percent discount each Wednesday on fruits and vegetables, as well as selected products. (TL)