While LoblawĀ and the Weston family that ownsĀ it have never exactly had the public’s trust, customers are more wary of the brand than ever as they prepare to launch a full boycott of Loblaws, Shoppers Drug Mart and all other chains under its large umbrella.
TheĀ demonstration, organized in the Loblaws Is Out of Control subredditĀ this month, now has thousands of people onĀ board from across Canada, all of them seeking an end to the price-gouging andĀ control that has come from the nation’sĀ grocery sector monopoly that desperately needs more competition.
Loblaw executives are now scrambling to assureĀ the public that they have beenĀ “making efforts to lower food prices,” issuing a release on Thursday that pointsĀ to the fact that food inflation is finallyĀ slowingĀ from record highs.
But, shoppers aren’t buying it.
Zero chance they lower prices ā¦ā¦ watch over the next month prices will go up 50-75% than they will lower the prices by 10% and all the š will go back. They need to lower prices to 2017 levels today
ā Guy Costa (@luso_7) March 21, 2024
Members of the popular subreddit are already trolling the company’s comments, sharing stats of how Loblaw Companies Ltd.’s stock value has soared since 2021.
“wErE dOiNg EvErYtHiNg We CaN tO lOwEr PrIcEs,” one person quipped along with a chart showing the firm’s market summary over the last five years, easily found on Google.
“As long as the shareholders are happy,” one person joked in the comments section.
“Most publicly traded grocery stores haven’t seen their market cap double in the last 36 months. Costco and Loblaws are the outliers,” another added.
āwErE dOiNg EvErYtHiNg We CaN tO lOwEr PrIcEsā
byu/Time_Ad_622 inloblawsisoutofcontrol
Those responding to the promise of lower prices on other social platforms seem to have the same belief ā that it’s never going to happen.
The boycott’s mandate states that “our community has seen hundreds of ridiculously priced goods, dumb deals, rotten produce and more. Loblaw and other major grocers in Canada enjoy the benefits of a monopoly on an essential service, and force us to pay utterly ridiculous prices.”
“Canadians are facing a cost of living crisis, and grocers are a major contributor to this… Food banks across the country are seeing a drastic increase in demand.Ā In response, our team has organized a boycott of Loblaw stores and demand action in order to provide relief to Canadians.”
Never ever trust greedy oligarchs. Temporary to manipulate customers. No one will believe him after bread fixing prices & taking $12mil for freezers from taxpayers
ā š¬š§ š¹Debbie š¬š§š¹ (@DebbieGBUK) March 22, 2024
Among other actions, participants will avoid buying goods from any Loblaw-owned stores for the month of May 2024, though many say their personal boycott has already started and/or will last long beyond this date.
The group is demanding a 15% price reduction across the board and the removal of special members-only pricing for PC Optimum card holders.
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