Asda pledges to drop cost of everyday products to below rivals’ loyalty card prices
Asda has pledged to drop the cost of everyday products to below those of its competitors’ loyalty card prices as it attempts to re-position itself following Christmas.
The supermarket said thousands of its household staples are now cheaper than Tesco, Sainsbury’s and Morrisons loyalty card prices.
It said the strengthened Asda Price Promise means families can shop knowing they are paying less without needing to sign up to multiple loyalty schemes or wait for special offers elsewhere.
Asda claimed it now offers more than 2,300 everyday products at prices lower than Tesco, Sainsbury’s and Morrisons loyalty card prices, including fresh meat, fresh produce, chilled, core grocery and bakery lines. However, the grocer is also running its own loyalty programme, Asda Rewards, which gives customers 10 per cent back in their “Cashpot” on all fresh produce products bought in-store.
Asda saw its market share slump to a new low of 11.4 per cent in the 12 weeks to December 28, according to figures from analysts Worldpanel. The slump came as sales at the grocer tumbled 4.2 per cent, according to Worldpanel figures. Rivals Tesco and Sainsbury’s won over more customers in the 12-week period, widening their lead on Asda, Britain’s third largest supermarket, according to the data.