Major supermarket cuts prices of 10,000 products by up to 45%
A MAJOR supermarket is to cut the prices of 10,000 products in its stores by up to 45%.
Asda has slashed prices across almost one third of its entire range since renewing its Rollback price commitment at the end of January.
Many shoppers will have seen prices cut across Asda’s more than 1,200 stores, with the supermarket looking to restore its reputation for good value.
The latest price cuts include a 44% cut in the price of 165g tub of Philadelphia soft cheese, from £2.08 to £1.16.
The price of Munch Bunch kids yoghurts has also been cut by 34%, from £1.78 to £1.18, and a 500g tub of Clover spread by 33% from £2.27 to £1.52.
In January Asda said prices would be cut by an average of 25%, with some reductions reaching 50%.
It has claimed that many of its “family favourite” products are now 5% cheaper than promotional prices at competitors, including Tesco‘s Clubcard prices or Sainsbury’s Nectar prices.
The price cuts come as the supermarket moves to a new so-called “Asda Price” that aims to beat rivals.
Asda previously had an Aldi and Lidl price match scheme where it matched the cheapest price of the two discount supermarkets.
But now it is focusing on making its own prices the lowest on offer.
Executive chairman Allan Leighton, who returned to head the supermarket in November, axed the price match guarantee.
He called it “completely nuts” to have given rivals free advertising, adding: “We’re focused on Rollback and Asda Price.”
Leighton is hoping to lead a turnaround of the business, which reported annual like-for-like sales had slumped by 3.6 per cent, despite food prices being higher.
The latest round of price cuts hoped to win round customers has also included a 34% cut to the price of a 330ml bottle of Head and Shoulders 2 in 1, from £5 to £3.32, and a 25% reduction in the price of Dairylea Dunkers, from £3.12 to £2.33.
The price of Pampers wipes have also been cut by 24%, while Asda’s Little Angels nappies have been reduced by 16%, saving parents 67p on a pack of 34.
On top of this Asda last week announced a 4p a litre price cut to petrol and diesel prices across all Asda and Asda Express forecourts.
Mr Leighton said: “Last week we signalled again our absolute commitment to lowering prices for customers and today we’re further delivering on that promise.
“By rolling back prices on thousands more products we’re making it even easier for our customers to save. Nearly 10,000 products have now been rolled back and we will continue to invest in lowering prices across the rest of the year and beyond.”
Rising food prices
The rollback comes after a report from the British Retail Consortium (BRC) found food prices rose at their fastest face in nine months in January, with costs jumping 0.5% month-on-month.
Experts at the BRC warned the figure suggested prices could continue to rise this year, with recent forecasts predicting an increase of 4.2% in the second half of 2025.
Food prices have risen steeply over the past few years due to a number of factors including higher energy costs, supply chain issues caused by the pandemic and rising labour costs.
Budget pub chain Wetherspoons has hiked prices on most of its menu, with drinks typically rising by 15p and food by 30p, which boss Tim Martin had warned may happen following the government’s Autumn Statement.
But while food prices have generally risen, supermarkets are always keen to beat their competitors on price in a bid to keep loyal customers and lure others to switch to them.
Tesco made a raft of 200 price cuts to items in its Express stores, which are more expensive than its larger supermarkets, in November last year, lowering prices by an average of 10%.
Supermarkets are also making other strategic changes to their offerings in a bid to reinvest the money to keep their prices low.
Sainsbury’s has cut around 3,000 jobs by closing its remaining in-store cafes and closing its bakery and deli counters.
Tesco is also reportedly cutting around 400 roles mostly focused around its bakery team, moving away from having staff bake goods inside the supermarket.
How to save on your supermarket shop
THERE are plenty of ways to save on your grocery shop.
You can look out for yellow or red stickers on products, which show when they’ve been reduced.
If the food is fresh, you’ll have to eat it quickly or freeze it for another time.
Making a list should also save you money, as you’ll be less likely to make any rash purchases when you get to the supermarket.
Going own brand can be one easy way to save hundreds of pounds a year on your food bills too.
This means ditching “finest” or “luxury” products and instead going for “own” or value” type of lines.
Plenty of supermarkets run wonky veg and fruit schemes where you can get cheap prices if they’re misshapen or imperfect.
For example, Lidl runs its Waste Not scheme, offering boxes of 5kg of fruit and vegetables for just £1.50.
If you’re on a low income and a parent, you may be able to get up to £442 a year in Healthy Start vouchers to use at the supermarket too.
Plus, many councils offer supermarket vouchers as part of the Household Support Fund.
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