ASDA today (Sunday 22nd January 2006) announced a further £102m of price investment. The latest cuts are in addition to its recent 'Red Hot Value' promotion which included £41m worth of cut-price products on offer in its stores nationwide.
This year ASDA is set to invest more money than ever before lowering prices – last year the supermarket ploughed £361m into price cuts, its biggest annual investment to date.
The move will see dozens of prices falling across the entire store from tomatoes to tellies, biscuits to beer, rugby shirts to Richard and Judy paperbacks.
Tony Page, executive director at ASDA said: "We're putting our money firmly where our mouth is with this multi-million investment in prices. Shoppers should expect to see even more aggressive cuts throughout the year - this is just the beginning."
Independent pricing surveys continue to show ASDA is in pole position amongst the supermarkets. Goldman Sach's latest pricing study (12th January 2006) confirmed that ASDA was already 'turning up the heat on pricing in 2006' by being the most aggressive price cutter in January of all the supermarkets.
Since June last year ASDA has consistently had the cheapest weekly basket of groceries according to The Grocer. ASDA has come out on top on 21 different occasions in the Grocer 33 survey; Sainsbury's has won just four and Tesco only three.
Tony added: "Low prices are in our DNA at ASDA - so expect to see even more amazing prices in the coming weeks and months. This year I guarantee they'll be more pocket-tapping savings for our customers than ever before!"