Asda has introduced a new pricing commitment that offers lower prices on over 2,300 everyday items compared to Tesco, Sainsbury’s, and Morrisons loyalty card prices. The reduced prices cover a variety of categories including fresh meat, fresh produce, chilled goods, core grocery items, and bakery products.
In addition to the price promise, Asda is running a promotion where shoppers will receive 10% back in Asda Rewards Cashpot on all fresh produce purchases made in-store throughout January. Rachel Eyre, Chief Customer Officer at Asda, emphasized the importance of providing customers with affordable prices to help manage post-holiday budgets effectively.
Following a challenging Christmas period, Asda experienced a decline in market share to 11.4% in the 12 weeks leading to December 28, according to data from analysts Worldpanel. The supermarket saw a 4.2% drop in sales during this period, marking its 22nd consecutive month of decline, while competitors like Tesco and Sainsbury’s saw gains in market share.
In response to the competitive landscape, Tesco recently announced a commitment to maintaining low prices on 3,000 branded products through its Everyday Low Prices campaign. This move comes as supermarkets continue to adapt to shifting consumer preferences and market dynamics.