Asda has introduced a new pricing commitment, offering lower prices on over 2,300 everyday items compared to Tesco, Sainsbury’s, and Morrisons loyalty card rates. The reduced prices cover various categories such as fresh meat, produce, chilled goods, core groceries, and bakery products.
Additionally, Asda is running a promotion in January where customers can receive 10% cashback in Asda Rewards Cashpot on all fresh produce purchases made in-store. Rachel Eyre, Chief Customer Officer at Asda, emphasized the aim to assist families in managing post-Christmas financial strains by providing competitive pricing without the necessity of a loyalty card.
Following a challenging Christmas period, Asda saw a decline in market share to 11.4% in the 12 weeks ending December 28, as reported by Worldpanel analysts. Sales at Asda dropped by 4.2%, marking the 22nd consecutive month of decline. In contrast, competitors Tesco and Sainsbury’s experienced an increase in customer base during the same period, further solidifying their positions ahead of Asda in the UK supermarket industry.
In a related move, Tesco recently announced its commitment to maintaining low prices on 3,000 branded items consistently through its new Everyday Low Prices initiative.