Asda slashes prices on 1,500 items to regain market share
Asda, the third-largest supermarket in Britain, has reduced prices on 1,500 products in an effort to attract customers and halt a decrease in its market share, News.Az reports citing CNBC.
The price reductions, which reach up to 45%, include popular brands and have impacted nearly one-third of Asda’s product range since the end of January.
Among the reduced items, Philadelphia soft cheese saw a price cut of 92 pence ($1.19), while the price of Head and Shoulders 2 in 1 shampoo was reduced by £1.68.
Last week, Asda cautioned about a potential decrease in profitability. Chairman Allan Leighton informed reporters that there is no immediate solution to improve the supermarket’s current situation. Asda’s market share fell to 12.6% in February, a drop from 13.7% in the same month the previous year.
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