Asda Losing Customers To Morrisons
Namnews, 19th October 2020 Morrisons’ recent strong run has partly been driven by it winning customers from Asda. This is according to “supermarket sources” quoted by The Mail on Sunday. Data prepared for the newspaper is said to show how Asda underperformed its competitors in the six months to the end of September amid surging demand for groceries during the pandemic. The chain’s market share fell to 14.3% in the six-month period from 15.1% a year earlier. Meanwhile, Morrisons has grown its market share just over 10%, despite fierce competition from the likes of Co-op and Iceland as shoppers spent more locally. One supermarket director told The Mail on Sunday: “Morrisons has been on the front foot since this began and its stores are very often located near Asda’s – it’s quite obvious it has been taking Asda’s customers.” The report suggested Asda was “unloved” by shoppers with a “supermarket veteran” saying the stores require an investment of as much as £500m to revamp. The Issa...