Those Cheap Cheap birds, cartoon mascots of Woolworths supermarkets, will start to disappear over the next few weeks.
The supermarket group, facing declining sales and weak profits, has completed a full review of its marketing efforts.
Part of that is a phase out of the Cheap Cheap campaign.
Woolworths won’t say what will be replacing Cheap Cheap other than to say: watch this space.
The supermarket group says its prices are still good, having matched that of Coles since late June.
Australian supermarkets have been engaged in a price war that has been putting pressure on margins and some of the impact of that was revealed in Woolworths annual results released today, which disappointed the market and were accompanied by an announcement that the chairman and CEO would be leaving the company.
In the results released today, Woolworths says it has invested more than $200 million to lower prices with average price deflation of 2.8% over the 12 months.
“Woolworths was also cheaper than Coles across almost 9,000 key items using Nielsen Homescan in Q4’15 and materially cheaper on an online basket of 10,000 items,” the company says.
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