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Asda to end price guarantee program

U.K. supermarket chain Asda Stores Ltd. said Sept. 5 that it will end its Asda Price Guarantee program Oct. 3.

The scheme, which was launched in 2010, promised customers that shopping in Asda would be 10% cheaper than the other big supermarkets. If it was not, the grocer would refund the difference.

Asda, which will soon merge with J Sainsbury PLC, said it is ending the program because it is no longer relevant to its customers, with less than 1% of shoppers using it.

The Walmart Inc.-owned retailer said it will instead invest more in lowering prices. According to the company, it has invested over £100 million in reducing prices over the past year.

Fellow U.K. grocer Tesco PLC in June also decided to drop its price-match program to focus on lowering prices.