Mohsin Issa, Co-owner of Asda said: “We know that household budgets are being squeezed by an increasing cost of living and we are committed to doing everything we can to support our customers, colleagues and communities in these exceptionally tough times.”
The moves come as supermarkets are increasingly left struggling to keep pace with German discounters Lidl and Aldi whose offering has proved attractive to shoppers struggling with rising living costs.
According to market research firm Kantar, Lidl and Aldi were the only big supermarkets to increase their market share in the 12 weeks to March while Morrisons and Asda both saw big declines.
Fraser McKevitt, Head of Retail and Consumer Insight at Kantar, noted there was now a switch from the pandemic being a dominant factor in shopping habits “towards the growing impact of inflation, as the cost of living becomes the bigger issue on consumers’ minds.”.
Credit: Source link