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Asda Price Guarantee saves hard-pressed shoppers £75m

£400m could be saved if every British shopper used Asda’s online price checker

As the Chancellor announces widespread spending cuts, Asda shows shoppers how to plug the hole in their household budgets.

The online price checker, Asda Price Guarantee, has saved Asda shoppers £75m in the last seven weeks since its launch, the retailer announces today. If every British shopper who visits a supermarket each week took advantage of the ‘Asda Price Guarantee’, the nation could save a colossal £400m per week.

So far, over 250,000 shoppers have used the independent price checker that guarantees the lowest priced weekly shop, or the difference plus a penny back. Following the emergency budget announcements, one person every 20 seconds has logged on to asda.com/priceguarantee to ensure they are getting their groceries at the lowest possible price to make every penny count.

Asda has also pledged to play its part in helping to keep family spending as low as possible through the VAT increases.

Andy Clarke, CEO of Asda, comments: "Saving money and keeping prices low is in our DNA and it’s what our customers depend on us to deliver. The more we lower our costs, the more we can keep prices down. It’s a simple equation, but clever, money saving ideas allow 18 million shoppers to enjoy the lowest possible prices – week in, week out.

“The increase in VAT will mean that every family will need to become savvier as they juggle their finances and the ‘Asda Price Guarantee’ is our permanent commitment to help customers save money and live better.”

Recent Asda research reveals Mums’ pressing concerns post-budget. Over eight out of ten of Asda Mums think they will be worse off after the budget announcement and the same number say that the VAT rise will have the most negative effect on their family finances.

With the spending cuts announced in the budget, Asda offers the Treasury some fantastic examples of how it’s done. The ‘Save £1 Everyday’ scheme, where every colleague submits cost saving ideas, has saved Asda £2.5m last year alone.

Since 2007, the business has saved a staggering £35.7m through environmental efficiency measures alone. In 2009, Asda saved £11.2m by cutting electricity use. In the same year, the supermarket saved £3.4 million by encouraging customers to use fewer plastic carrier bags.

The Asda Price Guarantee launched on 28th April 2010 and includes comparisons between Sainsbury’s, Tesco, Morrisons, Waitrose and Asda. It is the final shot in the supermarket price wars. If shoppers can purchase a basket of eight or more comparable products cheaper elsewhere, Asda will give them the difference, plus a penny. It covers over 13,000 branded and own brand products, and items on promotion.

Posted in Press Centre on 24 June 2010