Britain's supermarkets are engaged in a fierce price-cutting competition due to rising costs of living, with almost 30% of spending on discounts. Major players, including Tesco, Sainsbury's, and Asda, are reacting to lower profit margins and market pressures by enhancing their promotional deals. Despite this, Asda experienced a decline in sales, highlighting challenges within the sector even as grocery price inflation rises, positioning the Easter period as a brief bright spot amid growing competition and economic pressure.
Grocers have been offering big price cuts to stay competitive. They've invested in price cuts which were the main driver of promotional growth.
Asda has since cut prices on 1,500 products, including popular items like Cathedral City cheddar cheese and Head & Shoulders shampoo.
Despite these efforts, Asda was the only major supermarket to see a decline in sales over the past three months compared with the same period last year.
Grocery price inflation remains a challenge for shoppers. Inflation rose to 3.8 percent in the four weeks to 20 April, its highest level in over a year.
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