Five shekels groceries brought to you by Cofix
Not satisfied with creating a coffee revolution, Cofix founder Avi Katz will now be taking on supermarkets and food waste. Starting in Tel Aviv in April, he plans to open 40-50 small (150-400 square meter) stores where every product will cost 5 shekels- meat, vegetables, canned foods, cleaning products, and even housewares. It is not meant to be a full service supermarket but will have the basic items and is in negotiations with food manufacturers to produce a product that will be appropriate for his stores. These products may be in smaller sizes which is something he feels is to be desired. Too many people are tricked by promotions to buy large sizes and in bulk to save money but end up throwing the food out or it rots before they use it. If people buy less up front and in sizes that are appropriate for them at that time, there is less waste and that means more money saved. Israel leads all of the OECD countries in the amount of food waste that we produce- 350 shekels worth each month.
With Shufersal reporting losses and their increased marketing of the Shufersal brand as well as the supercofix announcement, it seems that businesses are starting to get the message that consumers are fed up with price gouging. Let’s hope that all of the supermarkets will feel the need to compete with supercofix and bring lower prices for everyone.