Asda has highlighted a north-south divide in the credit crunch, and economically speaking, the south is faring much better.
The supermarket chain's customers in the north have so far proved far less protected from the crunch than their southern counterparts.
Andy Clarke, Asda’s retail director, said sales at southern stores are out-stripping those in the north. "You can see a difference between the north east and south east, and that is about confidence. If you are in the north east you are probably more aware of Northern Rock," he said.
Asda has therefore tailored its promotional strategy to target the rising number of people eating at home since the credit crunch kicked in, and is launching or relaunching products for this market. "We are certainly seeing some of that trend in home eating and drinking," said Clarke.
