Posted 2nd Sep 2019

Weak spending and ‘stiff competition’ keep prices down

2nd September 2019 - 08:00am
money matters, brc, british retail consortium, nielsen, shop, price, index, deflation, non-food, kbb, kbbdaily, retail

The latest British Retail Consortium – BRC – Nielsen Shop Price Index has found that “weak consumer spending and stiff competition” are keeping shop prices down, with August prices falling by 0.4% compared with the 0.1% decrease seen in July.

Non-food prices dropped by 1.5% last month, marking the fastest rate of decline since June last year. Retailers used discounts to encourage shopping, with the DIY, furniture and electricals categories among others that sat below prices recorded in August 2015.

“Weak consumer spending and stiff competition has kept prices down in the UK, however a disruptive no-deal Brexit, which would raise the cost of imported goods, could reverse this trend,” said BRC CEO Helen Dickinson.

“In the interests of both consumers and retailers, the Government must redouble its efforts to find a workable agreement with the EU that would avoid a no-deal scenario.”

Nielsen retailer and business insight head Mike Watkins added: “August is often a difficult month for retailers, made more challenging this year by unseasonable weather early in the month, and we have seen the return of vouchering by many supermarkets and some non-food retailers bringing forward end of season discounts to help drive sales.”


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