Asda has implemented a significant price reduction initiative amounting to £23 million, impacting over 425 products.
- This move follows a previous £13 million investment, targeting budget relief for families amid rising living costs.
- The price cuts include essentials such as nappies, milk, bread, and chicken, averaging an 11% reduction.
- Asda’s income tracker reveals a drop in disposable income exceeding £100 monthly for average households since July 2021.
- Kris Comerford emphasizes Asda’s commitment to easing financial pressures faced by customers with targeted price reductions.
Asda has embarked on a noteworthy initiative, investing £23 million to reduce prices on 425 products, both branded and own-label, effective from 24 August 2023. Shoppers will benefit from average price reductions of 11% on essential items including nappies, infant follow-on milk, bread, cheese, cereals, pasta, fish fingers, sausages, and chicken breasts. This strategic move is a response to a decline in disposable income recorded by Asda’s income tracker, reflecting an over £100 monthly reduction per household compared with July 2021.
This latest price reduction effort builds on a prior investment made in July 2023, where £13 million was allocated to lower prices on over 200 own-label products, offering an average discount of 9%. The overlapping of these initiatives showcases Asda’s ongoing commitment to providing economic relief to its customers during challenging times.
Kris Comerford, Asda’s Chief Commercial Officer, highlighted the retailer’s efforts to alleviate the financial burdens consumers face, saying: “While the headline inflation rate may have eased slightly last month, our own data tells us that many customers are continuing to struggle with rising living costs.” Asda aims to focus its efforts on products frequently purchased weekly by customers, aiming to enhance the affordability of daily necessities.
Furthermore, Asda remains proactive in collaborating with suppliers to potentially pass commodity price savings onto consumers. This commitment underscores their dedication to not only short-term relief but sustained financial support, ensuring that price reductions are not fleeting but part of a broader strategy to maintain affordability.
Asda remains dedicated to supporting customers by lowering prices on essential products amid ongoing economic challenges.
