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.