Asda Sparks £400 million Christmas Shopping Price War
British Christmas shoppers are set for a bumper shopping season filled with discounts as price competition intensifies between retailers. With this Christmas season being the most cut throat in an entire decade, UK supermarket giant Asda forecast on Friday.
The top two UK retailers Asda and Tesco, announced on Friday, hundreds of millions of pounds in savings for their customers, as the shopping season hits its busiest time of year.
Asda sparked a £400 million price war with rival Tesco after announcing £150 million in potential savings for customers.
Tesco responded in kind by promising £250 million of savings for its customers.
Judith McKenna, Asda’s chief financial officer, went further on Friday, saying: “This year will be the most aggressive on price in a decade.”
Mrs. McKenna said Asda would cut the price of 50 home technology products and accessories, including TV’s, DVD players, mobile phones and satellite navigation systems.
This follows hot on a pre Christmas offer by Asda which includes games, music, toys and clothing, which Asda claims will save its customers £150 million this holiday season.
Rival Tesco immediately hit back by promising its customers, savings of more than £250 million, with the retailers UK marketing director saying the supermarket has “more offers than ever before”.
UK supermarkets have been bulking up on the non food product ranges, which produce fatter profit margins than ordinary groceries.
The retailers are fighting for market share that would have ordinarily gone to toys-to-DVDs chain Woolworths, which collapsed this time last year.
Click Here To Do Christmas Shopping Online From Asda Direct
Please Note - All Prices Quoted Are Correct at Time of Posting
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