Asda has dramatically bolstered last year’s Price Guarantee by pledging to beat its rivals’ prices by a full 10%.

From today the supermarket will refund the difference on any basket of food that is not at least 10% cheaper at Asda than at any of the other major multiples. The refund will be issued in vouchers redeemable against future Asda purchases.

The original Price Guarantee was launched last April, via an online tool that let shoppers claim back the difference – plus a penny – on any basket of food that was cheaper elsewhere.

Chief executive Andy Clarke claimed the latest move, which will be backed by US parent Walmart, would “cut through the phoney claims” of rivals about low pricing.

“At Asda, our customers place their trust in us to always have the lowest prices,” Clarke said.

“But from today our price promise is backed by a copper-bottomed guarantee. If the basket of food you buy in our stores is not at least 10% cheaper than each of our major rivals, we’ll put our hand in our pocket and give you back the difference.”

“The Asda Price Guarantee cuts through all the phoney claims and headline numbers and shows when it comes to saving people money, we mean business this year.”

Asda will push the revamped guarantee via a heavyweight TV and print campaign that begins tomorrow.

Read more
Is price guarantee a bluff or did Asda just play a blinder? (analysis; 1 May 2010)
Asda ‘guarantees’ lowest prices with online shopping tool (28 April 2010)