Asda has reduced the prices of 1,500 products to regain market share.

Asda, the third-largest supermarket in Britain, has reduced the prices of 1,500 products to attract customers and halt its declining market share. Since the end of January, price cuts affecting nearly a third of Asda's product range have reached up to 45%, including popular brands. Discounts include a reduction of 92 pence ($1.19) on Philadelphia cream cheese, while Head and Shoulders 2-in-1 shampoo saw a price drop of £1.68.

Last week, Asda warned of a potential decline in profitability. Chairman Allan Leighton stated to reporters, "There is no urgent solution to improve the supermarket's current situation." Asda's market share fell to 12.6% in February, down from 13.7% in the same month last year.