Asda has introduced a new pricing pledge, offering lower prices than Tesco, Sainsbury’s, and Morrisons on thousands of everyday items. The supermarket now features more than 2,300 products at reduced rates compared to its competitors, including fresh meat, produce, chilled goods, core groceries, and bakery items.
In addition, Asda is running a promotion throughout January where shoppers will receive 10% cashback in Asda Rewards Cashpot on all fresh produce purchases made in-store. Rachel Eyre, Chief Customer Officer at Asda, emphasized the initiative’s aim to assist families in managing post-Christmas financial strains by providing competitive pricing without the need for a loyalty card.
Contrary to this positive development, Asda experienced a challenging Christmas season, with its market share dropping to 11.4% in the 12 weeks leading up to December 28, as reported by analysts Worldpanel. Sales at Asda decreased by 4.2%, marking the 22nd consecutive month of decline. Meanwhile, rivals Tesco and Sainsbury’s expanded their customer base during the same period, further distancing themselves from Asda.
Recently, Tesco unveiled a commitment to maintaining low prices on 3,000 branded products consistently as part of its new Everyday Low Prices campaign. This move comes as part of the ongoing competition among major supermarkets to attract and retain customers through competitive pricing strategies.
