Greensboro, N.C. - When you heard Kroger bought Harris Teeter, you might have been afraid the store will change or that prices will go up. However, a Wake Forest School of Business professor says the opposite could be true.
Another large grocery store chain called "Publix" has already announced plans to move into North Carolina. Kroger and Harris Teeter will need to keep prices low to remain competitive.
"What that's going to do is create opportunity for the consumer to capitalize on that increased competitiveness. Publix is known for giving great discounts to its shoppers. Harris Teeter will have to, at least, be competitive," Wake Forest University School of Business Professor Roger Beahm said.
In addition, look for Harris Teeter to start stocking more items, not just food. Kroger has already started selling items like furniture in its stores to compete against big box stores like Target and Walmart. The key here is to keep current Harris Teeter customers happy.
"You want to keep some of those features that attracted those loyal customers and you want to feed and nourish those relationships. You don't want to just turn your back on the things that made you successful," NC A&T Assistant Professor of Economics Johnny Ducking said.
Being owned by a larger company will also help Harris Teeter compete against a growing list of other smaller competitors, like Fresh Market and Trader Joe's.