Asda’s new president, Andy Bond, has admitted that the number two grocery chain is not meeting some of its customers’ needs amid difficult trading conditions.
Commenting on the latest figures from ACNielsen, which revealed Asda’s market share had fallen from 17.2% to 16.9% since last year, Bond said improvements had already been made since his appointment in March. “We’re not satisfying customers in a number of ways and trading is tough at the minute. But I’m confident I know what we need to do.”
Bond indicated he would be looking to get “the best terms” with suppliers and would measure itself against Tesco to ensure Asda was selling at the lowest possible prices.
Bond also affirmed his support for UK suppliers.
“We’re committed to UK farmers and growers and understand the importance of local produce to shoppers. However, it works both ways and we can also offer our UK
suppliers the chance to become global suppliers with us, through Wal-Mart.”
However, global sourcing would become a bigger part of the business, especially in general merchandise.