Asda owners are to invest £30m into the supermarket chain to rescue its falling market share

The £30m investment “reset” package will be spent on increasing staffing hours and improving customer service levels and will be implemented before the end of the year, according to The Telegraph.

A spokesperson said: “We recognise that there are some areas where we can and need to improve and have set out our plan for colleagues to improve the availability of products in stores, the overall customer experience and ensuring we have the right trade plan throughout the remainder of the year.”

Kantar grocery market share shows that since Asda was taken over by the billionaire Issa brothers and private equity firm TDR Capital in 2021, its market share has fallen from 14.8% to 12.7%.

It comes after The Telegraph also revealed that less than half of Asda employees have confidence in the supermarket management’s strategy.

“While we are making significant progress in building a bigger and better Asda, there are some areas where we currently need to do better, and we are focused on addressing these,” the retailer reportedly said.

Asda’s weak performance has resulted in recent criticism from union bosses, who have claimed that the grocer has been “cutting hours from the shop floor and not investing in the stores”.

Back in May, Asda unveiled a £50m store upgrade programme to improve the shopping experience for customers in its superstores and larger supermarkets.

The programme rollout across 170 stores in total is expected to be completed by the end of November.