Asda has announced it will invest £300m in price cuts in the first quarter of 2015 to help customers in the new year.
The retailer is lowering the price of 2,500 household favourites in the Biggest Ever Rollback, further widening its price gap to the other big retailers and positioning Asda price even closer to the discounters.
The move forms part of Asda’s five-year strategy to invest £1bn in lowering prices and £250m in quality as it cements its position as redefining value retailing, and focusses on basket essentials like fruit, vegetables, cereals, nappies, loo roll, milk, eggs, meat and fish – as well as big brands.
Barry Williams, chief merchandising officer for food at Asda said: “We invest in price year round but we’re kicking off January with our Biggest Ever Rollback – spending £300m to bring more value across our stores and online on the products customers buy week in, week out. We’re going further than ever before, rolling back those every day, can’t live without items at a bigger percentage than we’ve ever been able to do previously.”
“With hundreds of products at 50p, and even more at 15% less than normal, we’re aiming to make a big difference for families in their weekly shop.”