- Asda CEO predicts another year of ‘intense pressure’ for supermarket retailers
- Retailer first to take immediate action by transforming the way it buys products to release a further £500m in lowering prices and further improving quality
- ‘Impactful changes and decisive action’ imperative for success in 2016
Asda President and CEO Andy Clarke has today announced an additional £500m investment in lowering prices as he predicts another year of intense pressure for supermarket retailers against a turbulent global economic backdrop.
The news coincides with confirmation from EMD – Europe’s leading buying alliance with a combined turnover of 178bn Euros – that Asda will shortly become a member. EMD is made up of 14 national buying structures and pools the collective buying power of 250 supermarket chains. Its work with Asda will be focussed on developing Asda’s own label ranges, including Extra Special.
Combined with a radical shake-up of the retailer’s approach to buying alongside the leverage from Asda-owned IPL (now the number three UK food supplier) and being part of Walmart, will release significant savings from its supply chain. These savings will permanently benefit customers through price cuts and further investment in quality.Read more