Asda offer more price-cuts!
Asda have said that they're going to try and win consumers back over, by spending an extra £500m on cutting prices. Seeing as their sales have fallen by 5.5% in the final quarter of 2015, they need to do something to get people through their doors.
Apart from a change in people's shopping habits - more people are prone to doing more frequent, smaller shops these days, rather than stocking up on one big weekly shop - Asda have suffered from a number of things.
They decided to not bother with Black Friday, which helped a lot of their rivals, and they are of course, being hammered by the growth of Aldi and Lidl. With Amazon muscling in on the grocery scene, they need to act quickly.
Asda have said that they're going to invest an additional £500m to offset the cost of lowering prices, which is on top of the £1 billion that they said they were committing previously. They think that all this is going to "lead to substantial reductions in costs and allow significant investments in customer value".
Things are looking tough for the Wal-Mart owned supermarket - one thing's for certain - they won't be doing any of those multi-buy/BOGOF deals and making their money that way.