Asda has confirmed it has plans to extend its newly-launched price-matching scheme with high street discounter Home Bargains, as well as the new ‘Dropped and Locked’ pricing initiative.
The price match, which was first spotted instore last week, covers more than 100 branded products across health and beauty, household goods and groceries, such as Colgate, Garnier, Surf, Huggies and Heinz.
The scheme is the latest pricing campaign from Asda, which has been ramping up its value offering over recent weeks.
The new value range, ‘Just Essentials’ will be launching later this month, replacing its current Smart Price own-brand label and offering 300 low-price essential products, and is following hot on the heels of its new ‘Dropped and Locked’ campaign, which launched last week.
Dropped and Locked has seen the supermarket lower prices on more than one hundred products, which it will then hold until the end of the year. Asda plans to expand both schemes further as owner the Issa brothers look to appeal to customers looking to keep spending low during the cost-of-living crisis.
“We plan to expand the ‘Dropped and Locked’ and Home Bargains price match offering and will share further details as soon as we can,” an Asda spokesperson told Grocery Gazette.
“The economic climate is incredibly tough for families right now and we know from our research at Asda that nine out of ten customers are worried about inflation.
“We want to do all we can to support customers during these tough times.”
The most recent data from Asda’s online consumer-facing Pulse of the Nation survey found that 9 in 10 families are concerned about the effect of inflation on their household budgets, with a similar number (87%) saying they are worried that grocery prices will increase this year.
Asda’s latest Income Tracker also recorded its biggest ever drop in disposable income in March with the nation’s lowest income families having 74% less to spend in March compared to last year.
The Bank of England also warned last week that inflation is expected hit 10% by the end of the year as the country heads into a recession.
Price Match offers will be updated weekly, with the full list of items available on the Asda website.