Asda has introduced a new pricing pledge, offering lower prices on over 2,300 everyday items compared to Tesco, Sainsbury’s, and Morrisons loyalty card prices. The discounted products include fresh meat, fresh produce, chilled goods, core grocery items, and bakery goods.
In addition, Asda is running a promotion in January where customers will receive 10% cashback in Asda Rewards Cashpot on all fresh produce purchases made in-store.
Chief Customer Officer at Asda, Rachel Eyre, stated that the initiative aims to assist families in managing their post-Christmas finances by providing competitive prices on essential products without the need for a loyalty card.
This move follows a challenging Christmas period for Asda, with its market share dropping to 11.4% in the 12 weeks leading to December 28, as reported by analysts Worldpanel. Asda experienced a 4.2% decline in sales during this period, marking its 22nd consecutive month of sales decrease.
Meanwhile, competitors Tesco and Sainsbury’s saw an increase in customer acquisition during the same 12-week timeframe, solidifying their lead over Asda in the UK supermarket sector.
Recently, Tesco announced its commitment to maintaining low prices on 3,000 branded products consistently as part of its new Everyday Low Prices campaign.