November 14, 2022
(press release)
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Asda has updated investors on its Q3 trading performance (Jul-Sept) and reaffirmed its commitment to supporting families during the cost of living crisis. The supermarket’s investments to drive value during the quarter resulted in a 4.7% increase in like-for-like sales when compared to the same period last year, while total revenues excluding fuel were £5.2 bn.With the latest Asda Income Tracker showing that the average
Key Highlights: * Designed to keep households running on the tightest of budgets, Just Essentials is a popular choice for customers, with more than 10 million shopping the range during the quarter and was crowned ‘Best Own Label Range’ by the prestigious Q Awards this week. * Around 70% spend on the range is from new customers and more than 400k shoppers switched to Asda during the quarter from more expensive supermarkets. * Asda also continued its ‘Dropped & Locked’ pricing initiative, where 250 family favourite products are locked in price for the rest of the year to give customers more certainty over their shopping bills. * The ‘Kids eat for £1’ offer is available in all 205 cafes across the
* Building on the impact of ‘Kids eat for £1’, Asda also launched its ‘Winter Warmers’ offer in cafes earlier this month, offering customers aged over 60 the chance to enjoy soup, a roll and unlimited brews for just £1. Original Press Release:
- Q3 like-for-like sales +4.7% representing the strongest quarterly performance since Q1 2021 Source: ASDA [Category: Retail, Financial Results]
- Just Essentials value range helps to attract 400k new shoppers from other supermarkets
- Asda continues to invest to help families manage rising living costs and is on course to serve one million ‘Kids eat for £1’ meals before the end of the year
Asda has today updated investors on its Q3 trading performance (Jul-Sept) and reaffirmed its commitment to supporting families during the cost of living crisis.
The supermarket’s investments to drive value during the quarter resulted in a 4.7% increase in like-for-like sales when compared to the same period last year, while total revenues excluding fuel were £5.2 bn.
Delivering value every day
With the latest Asda Income Tracker showing that the average
This included rolling out 141 new budget-friendly Just Essentials products, including popular cupboard staples such as rice, pasta, tinned tomatoes and tuna, increasing the total number of products available in the range to 270.
Designed to keep households running on the tightest of budgets, Just Essentials is a popular choice for customers, with more than 10 million shopping the range during the quarter[*] and was crowned ‘Best Own Label Range’ by the prestigious Q Awards this week.
The great value for money offered by the Just Essentials range has been a key driver in attracting new shoppers to Asda. Around 70% spend on the range is from new customers and more than 400k shoppers switched to Asda during the quarter from more expensive supermarkets.[**]
Asda also continued its ‘Dropped & Locked’ pricing initiative, where 250 family favourite products are locked in price for the rest of the year to give customers more certainty over their shopping bills.
During the quarter, Asda also refreshed its bakery, meat, fish and poultry categories, adding over 100 new lines at different price points to suit all customer budgets. This has resulted in a 15.5% uplift in bakery sales year-on-year and 6.4% increase in meat, fish and poultry sales.
To give customers even more value when they shop, Asda rolled out its new Asda Rewards loyalty programme to all stores and online during the quarter following a series of successful regional trials. The app, which rewards customers with pounds off at the checkout rather than points, has 2.7m active users.
Supporting our communities
With customers and community groups across the
The ‘Kids eat for £1’ offer is available in all 205 cafes across the
Building on the impact of ‘Kids eat for £1’, Asda also launched its ‘Winter Warmers’ offer in cafes earlier this month, offering customers aged over 60 the chance to enjoy soup, a roll and unlimited brews for just £1. The supermarket stepped up its support for this group as they continue to be disproportionately impacted by the cost-of-living crisis and served 19,000 meals so far.
Creating more convenient ways to shop
During the quarter, Asda stepped up its plans to enter the convenience retail market and bring Asda value to more local communities, with the acquisition of 129 convenience stores and attached petrol stations from the
In addition, Asda has this week launched its first standalone convenience store under the new ‘Asda Express’ brand. The store, which has opened at
Christmas
The supermarket has also invested in quality for the festive season, launching 740 new Christmas products, including 100 vegan and ‘Free From’ lines. Four Asda products have been rated ‘Best Buys’ by
With just over six-weeks to
The supermarket has also boosted its online delivery capacity this year and will have more than one million home delivery and click & collect slots available the week before Christmas, including deliveries on
Footnotes:
[*] Kantar Worldpanel data 12-weeks to
[**] Kantar Worldpanel data 12-weeks to
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