Asda is slashing prices, including through the reintroduction of its rollback reduction programme, as it seeks to reestablish its value for money credentials.
Asda marked the return of its “iconic” rollback with price cuts averaging 25% on approximately 4,000 products in the first stage of a “significant investment to begin lowering prices across its entire range”, including the revival of the ‘Asda Price’ positioning.
The initiative has been accompanied by a new advert, featuring TV personality and fitness coach Joe Wicks and the famous ‘That’s Asda price’ tagline and pocket-tap.
An ongoing rollback will follow at Asda, where the return of Allan Leighton as executive chair has signalled a back to basics approach including a renewed focus on price competitiveness. The grocer intends to shift its whole range to a new, low ‘Asda Price’.
The retailer has just stopped price-matching value specialists Aldi and Lidl, which have challenged the existing grocery order in recent years, but Asda chief customer officer David Hills maintained the price cutting commitment would reconnect it to core customers.
Hills told Retail Week: “This is a long-term commitment, and therefore investment, to lowering our prices across the entirety of our product range to get back to Asda’s DNA and reestablish our position as the cheapest full-service supermarket.
“This is about us satisfying our core customer base, which is hard working families, that they can trust that they get unbeatable value by shopping at Asda. We satisfy in one destination all of your needs as a hard working family, and that will be at the cheapest price in the market.”
Asda said that its latest offensive means many “family-favourite products” are 5% lower than competitors’ promotional prices. The approach is being adopted across all of Asda’s categories and in Asda Express c-stores as well as supermarkets, “meaning customers will save on their whole basket whenever and wherever they shop”.
Leighton said: “We’re lowering prices throughout our stores and online to make Asda the cheapest traditional supermarket, and in the process returning to what makes Asda special – delivering unbeatable value to the customers and communities who count on us.”
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