Asda has introduced a new pricing guarantee, offering lower prices on thousands of everyday items compared to Tesco, Sainsbury’s, and Morrisons loyalty card prices. Over 2,300 products at Asda are now priced lower than its competitors, including fresh meat, produce, chilled goods, core groceries, and bakery items.
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. Rachel Eyre, Chief Customer Officer at Asda, expressed the company’s commitment to helping families save money by providing consistently low prices without the need for a loyalty card.
Following a challenging Christmas period, Asda saw a decrease in market share to 11.4% in the 12 weeks leading up to December 28, as reported by market analysts Worldpanel. Sales declined by 4.2%, marking the 22nd consecutive month of decreasing sales for Asda. Meanwhile, competitors Tesco and Sainsbury’s managed to attract more customers during the same period, widening the gap between themselves and Asda.
Tesco recently announced its pledge to maintain the affordability of 3,000 branded products under its new Everyday Low Prices initiative.