Wal-Mart-owned grocer, Asda, has reported that sales at its stores in the North were more affected by the current credit crunch than in South.

Asda’s retail director, Andy Clarke, revealed that sales in the South outstripped those in the North, while sales in Wales remained unaffected. He observed a marked difference in confidence levels in the South East and North East.

Clarke stated that it had stepped up a promotional campaign by targeting the large number of cash strapped customers who had started eating at homes in the backdrop of the credit crunch. He informed that Asda had been resorting to launching or re-launching products to meet requirements of this market; an approach which is also being adopted by Morrisons and Sainsbury’s. Clarke was seeing a new trend in home eating and drinking.

Asda had been helping customers by providing shuttle bus service at 25% of its stores for commuting to and from out-of-town stores. This saved customers’ expenses on petrol in travelling for eating out of home.

Peter Marks, chief executive of the Co-operative Group informed that it was benefiting from emerging trend of eating at home which boosted Group’s pre-tax profit sharply.

The Group posted 60.5% rise in profits to £197.6m, for 28 weeks to July 26. The strong performance was driven by the food division and its merger with United Co-operatives which increased its outlets in north of England. Food Division’s sales grew by 43.5% to 2.4bn.

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