ASDA’s market share jumps to an all-time high
Supermarket chain ASDA enjoyed strong sales over the twelve weeks to march 18, which helped the Walmart-owned retailer increase its market share to an all-time high, stats compiled by market research firm Kantar Worldpanel revealed.
According to the released figures, ASDA saw an increase of 7.8 per cent in sales over the concerned twelve weeks, considerably higher than the 4 per cent increase across the market. Over the four weeks to March 18, ASDA's sales jumped by 8.1 per cent.
The strong sales helped the grocer expand its market share from 17.3 per cent last year to a record high of 17.9 per cent this year.
ASDA has got a big boost by its acquisition of 147 stores of Netto UK in 2010, and its price guarantee initiative.
Kantar director Edward Garner said ASDA’s price guarantee scheme helped it defuse rival retailer Tesco’s Big Price Drop.
Speaking on the topic, Garner said, “Even if people don’t redeem the Asda price guarantee, it has still put down a marker to say you can trust us on price.”
Tesco, the UK’s biggest retailer, is continuing to be under intense pressure from an ASDA’s growth as well as smaller low-cost rivals.
Tesco’s market share declined to 30.2 per cent in the twelve weeks to March 18, from 30.6 per cent in the corresponding period of last year.