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Oct. 28 (Bloomberg) -- Wal-Mart Stores Inc.’s Asda chain said the number of Britons participating in its online price- check campaign has risen 150 percent in the last two weeks after it offered a 5-pound ($8.07) spending voucher as an incentive.
More than 1 million customers have checked their receipts on the supermarket chain’s price-guarantee website against a promise of 10 percent cheaper prices than rivals such as Tesco Plc or a refund of the difference, Asda said by e-mail today.
For participating in the program, Asda customers receive a voucher against their next 40-pound shop. The retailer made the offer in response to larger competitor Tesco Plc’s “Big Price Drop” campaign on 3,000 essential items and J Sainsbury Plc’s “Brand Match” promotion. Asda’s campaign is being supported by 100 in-store iPad stands for those without access to computers.
“The promise to be 10 percent better value than other supermarkets is the most powerful price commitment in the industry,” said Asda’s head of pricing, Mark Kupelian.
U.K. grocers have stepped up discounts in the last two months as they seek to lure shoppers battling high unemployment and inflation. According to Kantar Worldpanel, the grocery market rose 5.1 percent in the 12 weeks through Oct. 2, with price inflation of 5.7 percent implying a drop in volume.
--Editors: Paul Jarvis, Robert Valpuesta.
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