Asda is making a massive change to several products in the latest wave of price cuts. The popular UK supermarket has introduced a significant round of price reductions across a wide range of its products, targeting 249 additional items – primarily fresh food lines.
The move is part of the supermarket’s ongoing effort to offer better value to customers amid rising living costs. On average, prices for these selected stock-keeping units (SKUs) have been cut by 7%, reflecting Asda’s commitment to keeping everyday essentials more affordable for shoppers, reports The Grocer.
It comes after Asda revealed price cuts on more than 1,000 products last week as executive chairman Allan Leighton stepped up his efforts to restore “Asda Price” in a bid to win back shoppers ahead of Christmas.
The latest additions sit across Asda’s frozen, chilled, meat fish and poultry, and produce categories. It includes Ready Rolled Light Puff Pastry (320g), which has dropped by 19% to £1.04; Exceptional Lemon Curd Yogurt (150g), which has dropped from 98p to 82p (a fall of 16%); and Wyke Farms Vintage Cheddar (300g), which now costs £3.18, down from £3.53 – a 10% reduction.
The largest reductions are also to Extra Special Raw & Hand-Peeled Jumbo King Prawns (200g), which has dropped in price by 50% to £2.12, and to Cook by Asda Butternut Squash Chunks (700g), which have fallen from £2.10 to £1.38, a 34% reduction.
Asda Flavoursome Reduced Fat Smoked Bacon Medallions (down from £2.98 to £2.48); Asda Loose Red Grapefruit (down from 47p to 44p); and Asda Mild & Peppery Flat leaf Parsley (down from 60p to 52p) are among the other included products.
Rachel Eyre, Chief Customer Officer at Asda, had previously said: “We understand the pressure families are under from rising living costs and we’re stepping up our support as we enter an expensive time of year for our customers.
“We are cutting prices on the everyday products they rely on the most, helping them bring down their food bills and get even more value every time they shop with us. This is real support, where it counts. That’s Asda Price.”
Asda’s plan to cut prices has led rivals Sainsbury’s and Tesco to set aside extra funds, with Tesco even lowering its profit forecast by £400 million for the year.
During Tesco’s quarterly results on 2 October, CEO Ken Murphy responded to the pricing pressure – without naming Asda directly – saying Tesco would invest heavily to keep its growth going.
He questioned the logic behind the aggressive price cuts, pointing to Tesco’s strong 4.9% UK sales growth in the first half of the year as proof of its successful strategy.