When a competitor moved into the area last year and affected business, management at Diamond Food Market in Bridgeport knew they had to find a way to stay relevant.
Store owners think they’ve found a way by lowering their prices and changing the name of the store to CashSaver Cost Plus.
“There will be low prices every day through a deep discounting format,” said Ed Geer, vice president of Diamond Food Market Co. “It’s a different concept based on volume. Instead of selling a few items below cost while charging high prices on everything else, this format discounts everything in the whole store.”
Geer’s company is a member of Associated Wholesale Grocers Cooperative (AWG), the second-largest retailer-owned grocery cooperative in the U.S. with tremendous buying power, according to a press release from Diamond Food Market Co.
“We plan on leveraging that buying power to pass those savings on to our community here in Bridgeport,” Geer said. “Prices will be really low. Frito Lay, Doritos and Coca Cola products will typically be 15 percent less than everyone else around us. We won’t change anything except the format.”
In preparation for the change, the store will close Tuesday, May 29, to Thursday, May 31, and reopen with a ribbon cutting ceremony 8 a.m. Friday, June 1.
“We’ll have the same hours, same work crew,” Geer said. “We’ll just give the store a new look and name and run it on this new system.”
Geer said the new store will preserve its IGA mark.
“We felt it was important to maintain the IGA title,” he said. “Their standards are important to us in the day-to-day standard of performance we want to uphold – ensuring shoppers a high level of customer service, a clean store and quality merchandise. It was important that we stay with IGA even though we’ve taken a new name.”
In addition to the name change, the store will also modify advertising of its weekly specials.
“We will not be mailing four-page circulars out each week,” Geer said. “Instead of a weekly ad, the store will provide a ‘hot sheet,’ which will include items obtained at especially low prices.”
Despite the changes, Geer assures customers the new format, also in place at Metro Food Outlet in Lake Worth and stores in Dallas, is to their benefit.
“It’s a simple idea,” Geer said. “We want people to understand that they are not being taken advantage of. There’s no need to have a card, no gimmicks. The pricing is geared to compete with supercenters. This is meant to be your everyday shopper. The smart shopper will buy our competitor’s weekly ad items and return to CashSaver to get the rest of their groceries. I’m looking forward to it.”