Asda has set its sights on luring UK shoppers away from the discounters with moves to sell a range of household items for GBP0.50.

Bread, porridge and soup are among the lines being sold for GBP0.50 as part of Asda’s bid to stem a decline in its market share.

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Asda – along with the rest of the UK’s five largest grocers – have seen their market share fall in recent weeks, in part at the expense of the discount retailers operating in the country.

“We are offering more value than ever before across our stores on the products that people actually week in, week out. With hundreds of products at 50p, we’re even making the Poundshop and Aldi look expensive,” Barry Williams, chief merchandising officer for food at Asda, said.

According to the most recent market share data issued by Kantar Worldpanel, German giant Aldi and Lidl were enjoying a record share of the UK grocery market.

In the 12 weeks to 8 December, Aldi accounted for 4% of the market, while Lidl retained its record share of 3.1% which it reached during the summer.

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The Kantar Worldpanel figures, which includes the impact of store openings, also showed over half of the UK’s households had visited either an Aldi or a Lidl during the period – the first time a majority of the country’s homes had frequented one of the discounters.

The products on sale for Asda at 50p include Associated British Foods’ Kingsmill bread and Cadbury twinpot desserts.

Asda’s cuts are part of a GBP1bn investment the retailer plans to make in lowering prices over the next five years.

The retailer, the UK arm of Wal-Mart, said in November it wanted to “widen the gap” with its big three rivals, Tesco, Sainsbury’s and Morrisons.

The Co-operative Group, the UK’s number five grocer by sales, today launched an agressive price promotion in a bid to tackle its declining market share.