UK retailer Asda has clocked up GBP1bn (US$1.6bn) worth of local and ethnic food sales since 2001.
The sales target has been achieved through the firm’s work with around 600 local suppliers, it said today (22 June). The Wal-Mart Stores subsidiary currently stocks around 6,000 local products throughout its 400 outlets.
Go deeper with GlobalData
The retailer said it hopes to reach GBP500m in annual sales by 2013.
Asda stepped up its development of small suppliers earlier this year with the launch of its ‘Supplier Development Programme’ in partnership with Scotland Food & Drink. Ten Scottish companies, including Shetland Products and Border Biscuits, signed up for the nine-month programme, which aims to give small suppliers an opportunity to develop a long-term relationship with large retailers like Asda.
“We’re really proud that we’ve built our local business from a standing start to a GBP1bn success story,” said Asda’s category director on emerging markets, CJ Antal-Smith. “And we’re not stopping there; looking ahead our plans are more than ambitious.
“We’re working with the some of the smallest UK suppliers to give them the opportunity to grow their business, and at the same time increase the amount of local and ethnic products available to our customers – proving that big stores can do local in a big way.”
How well do you really know your competitors?
Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.
Thank you!
Your download email will arrive shortly
Not ready to buy yet? Download a free sample
We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form
By GlobalData
