Value remains king and price is the most important factor, stressed Richard Baker, deputy COO at supermarket group Asda, this morning.

Speaking at the Institute of Grocery Distribution’s (IGD) annual convention, Solving the Value Equation, Baker explained how a look at today’s supermarket sector highlights how consumers value everyday low prices (EDLP) over a series of price promotions.

“Those companies wedded to EDLP, for example Morrison’s Asda and Tesco, are performing better than those who rely on promotions, such as Safeway, Somerfield and Sainsbury,” Baker pointed out.

A glance at German discounter Aldi and US behemoth Wal-Mart is further proof of the success of EDLP, he added.