Coles slashes price of 190 items for Down Down campaign anniversary

The supermarket campaign that’s cutting the cost of almost 200 essential grocery items from toilet paper to pantry essentials.

Coles is cutting the price of 190 everyday buys across the country to celebrate the 10th anniversary of its Down Down campaign.

The savings come at a much-needed time as Australia is officially in recession with Prime Minister Scott Morrison offering a grim warning for jobs.

“It is more important than ever that we are providing customers with great value every time they shop,” Coles chief marketing officer Lisa Ronson told news.com.au.

“Down Down and the Big Red Hand have been an important way for Coles to provide our customers with trusted value they can rely on. The campaign changed the face of retail by keeping the cost of groceries for Australians down,” she said.

“As we celebrate its tenth anniversary, we remain committed to lowering the cost of living during what has been a very challenging time for so many.”

In the recent price cuts, the supermarket giant has slashed everyday essentials including Quilton 20-pack toilet paper for $10, 2kg Fab laundry powder for $7, and pantry essentials like Moro olive oil for $12 and the mega-sized 780g Bega peanut butter for $6.50.

A 750g bulk pack of Coon cheese slices has been reduced to $10, Coles free range pork leg roast is now $12, and Uncle Toby’s Cheerios cereal 570g is down to $5.

Treats are also discounted. You can pick up a pack of Oreos for $3.50 and an 8-pack of Coca-Cola for $6.

Coles is slashing prices to celebrate 10 years of its Down Down campaign. Picture: David Geraghty/NCA NewsWire

Australians have been warned to expect a long road ahead before the economic disaster turns around, as unemployment rates continue to linger with Aussies facing job and pay cuts if they haven’t already.

“Lower prices certainly help Australian’s with their living costs,” AMP Capital head of investment strategy and chief economist Shane Oliver said, “particularly at a time when wages growth has slowed right down or gone backwards for some.”

He added that what is less clear is whether this is greater than normal discounting or whether its in line with what the supermarket does regularly every so often anyway. “If it’s the latter then it won’t have much impact,” he said.

The average Australian household currently spends more than $12,000 per year at the supermarket, according to the ABS.

“The cumulative reduction of 10 per cent in Coles’ prices over the past decade has made a real difference in lowering the cost of a major component of household spending,” a Coles spokesperson told news.com.au this morning.

“Down Down has been a key part of Coles’ commitment to delivering great value to customers. For some products the Down Down price has remained in place for years after the Big Red Hand came calling.”

Coles revealed it will be launching some new Down Down products in the coming weeks, with savings of up to 45 per cent.