Prís supermarket offers lower grocery prices than Bónus in Iceland

Prices for groceries at Prís, the newly opened supermarket, are largely lower than those at Bónus, according to a comparison of 300 products conducted by ASÍ. Prís, which has been operational for nearly a week, promises to offer the lowest prices across all categories.

Benjamin Julian Dagsson, project manager for ASÍ’s price surveillance, visited Prís on its opening day. His findings suggested that in nearly all instances, Prís was cheaper than Bónus, which has prompted competitive pricing in the market.

Out of the 300 products surveyed, Prís was found to be less expensive for 217 items, or 73% of the cases. Conversely, Bónus was cheaper for only 17 products, which accounts for 6%. Pricing was equal for around 20% of the items assessed. The most notable price difference was for Goða ham (a type of ham), which is priced twice as high at Bónus, and Mylla home bread, which costs 90% more at Bónus than at Prís.

About one in three items was more than 5% cheaper at Prís, and one in six was over 10% cheaper than at Bónus. This pricing competition has also been observed to extend beyond the capital, affecting Bónus in rural areas.

In most comparisons, Krónan, another supermarket, was found to be priced just one Króna above Bónus, occurring in approximately three-quarters of the cases. After the comparison, Dagsson noted that the competition continues as prices are being actively decreased day by day.