Last of the Big Three to Abandon Promises

  • Asda ends its price guarantee scheme
  • Last of the big three supermarkets to abandon the plan
  • Tesco and Sainsbury’s ended their schemes a month and two years ago respectively
  • Scheme was launched in 2010 with promise of 10% lower weekly shop cost
  • Less than 1% of customers used it, says Asda’s chief customer officer Andy Murray
  • Customers have more price information now
  • Big four struggling against Aldi and Lidl in market share

Asda has become the last of the big three supermarkets to abandon its price guarantee scheme, following Tesco and Sainsbury’s lead. The supermarket claims that the scheme is no longer relevant due to increased customer awareness and competition from Aldi and Lidl. Asda chief customer officer Andy Murray stated that less than 1% of customers used the scheme, and that customers now have more price information at their fingertips.

Factuality Level: 8
Factuality Justification: The article provides accurate and relevant information about Asda’s decision to abandon its price guarantee scheme, citing reasons such as its decreasing relevance to customers and the need to invest in lowering prices. It also mentions the context of the big four supermarkets struggling against German competitors Aldi and Lidl. The article is not sensationalist or opinionated, and presents factual information about the company’s actions and market trends.
Noise Level: 3
Noise Justification: The article provides relevant information about Asda’s decision to abandon its price guarantee and explains the reasons behind it. It also mentions the current market situation with German supermarkets taking a larger share of the market. However, it lacks in-depth analysis or exploration of long-term trends or consequences.
Financial Relevance: Yes
Financial Markets Impacted: Asda and its competitors in the UK supermarket industry
Financial Rating Justification: The article discusses Asda’s decision to abandon its price guarantee scheme, which impacts their pricing strategy and potentially affects competition with other supermarkets in the UK market. This can have financial implications for both Asda and its rivals, as well as the overall supermarket industry.
Presence Of Extreme Event: No
Nature Of Extreme Event: No
Impact Rating Of The Extreme Event: No
Extreme Rating Justification: There is no mention of an extreme event in the last 48 hours.

Reported publicly: www.retailsector.co.uk