Shop prices fall in September but no-deal Brexit may impact retail, BRC says

// Shop prices dropped in September as retailers cut prices to encourage spending

// Shop prices fell 1.6% in September compared to August

Shop prices have continued to drop in September as retailers cut prices in order to encourage further spending, but a no-deal Brexit may come at a cost.

Shop prices fell 1.6 per cent in September compared to August, according to the latest BRC Nielsen Shop Price Index.

This is below the 12 month average price decrease of 1.1 per cent, but above the six month average price decrease of 1.7 per cent, respectively.

Non-food prices dropped 3.2 per cent in September compared to a decline of 3.4 per cent in August. This is below the 12 month average price decline of 2.6 per cent, but above the six month average price decline of 3.5 per cent.

Food inflation eased to 1.2 per cent in September, down from 1.3 per cent in August. This is below the 12 and six month average price increases of 1.4 per cent and 1.4 per cent, respectively.

Fresh Food inflation held at 0.2 per cent in September. This is below the 12 and six month average price increases of 0.6 per cent and 0.5 per cent, respectively – the lowest rate of increase since February 2017.

“Consumers can celebrate yet another month of falling shop prices, particularly in the non-food ranges such as clothing and footwear,” BRC chief executive Helen Dickinson said.

“Retailers are cutting prices in order to encourage further spending where sales are yet to pick up.”

However, she warned that a looming no-deal Brexit may come at a cost to the industry.

“Many non-food retailers will face large tariff bills, and as a result, the total cost to the industry and its customers would be much higher.

“The government must prioritise a tariff-free deal, otherwise hard-pressed consumers will bear the brunt of price increases.”

Nielsen head of retail and business insight, Mike Watkins said: “The recessionary impact of the pandemic on retailing will become more visible during the golden quarter and retailers are already adapting their business models.

“Non-food retailers had the additional challenge of selling through seasonal stock, disrupted by unpredictable weather.

“Looking ahead we can expect shop price inflation to remain at current low levels for the next quarter.”

Click here to sign up to Retail Gazette’s free daily email newsletter

The post Shop prices fall in September but no-deal Brexit may impact retail, BRC says appeared first on Retail Gazette.

from Retail Gazette https://ift.tt/30g8qcw
via IFTTT

Comments

Eagle Labs launches impirica CBD brand

ST. PETERSBURG, Fla. — Eagle Labs has launched impirica, a new brand of CBD intended to eliminate consumer fear, and increase confidence, in trying the exciting new cannabidiol category. Michael Law Although most Americans have now heard about CBD, many are very confused and concerned about product quality. This is inhibiting trial in the category and holding back conversion into sales. In fact, a 2017 study by Johns Hopkins University found that two out of three CBD products on the shelf did not contain the amount of CBD reflected on the label. Furthermore, in 2018 and 2019, the FDA sent notices to a substantial number of CBD manufacturers advising them of serious concerns about product quality or egregious medical claims. The impirica brand looks different than most CBD brands — the brand name itself connotes testing and trust, says Eagle Labs chief commercial officer Michael Law. “It doesn’t use the traditional category colors of browns and greens, and you won’t find a hemp...

Coronavirus Recovery: Canadian Small Businesses Must Focus on Easing Employee, Customer Fears

By M. Tina Dacin and Laura Rees A small business has been given the green light to reopen amid the COVID-19 pandemic . What does it need to consider for employees and customers? Small business owners are reorganizing physical space to account for continued distancing requirements and rethinking supply chains to deliver products and services in new ways to meet changing demand patterns. But they must not forget the hearts and minds of employees and customers. That doesn’t mean replacing a focus on the bottom line, but it helps address the need for a new set of expectations and ways of communicating in terms of product or service offerings, delivery methods and real-time feedback. Based on our expertise in organizational behaviour and past research we’ve conducted, we provide a set of recommendations to help small businesses thrive in our new COVID-19 economy by looking after the hearts and minds of the people most important to businesses — employees and customers. Fear, Anxi...

World's 1st Pizza Subscription Service Launches in Toronto

general assembly subscription user opening delivery box of pizza. photo: general assembly pizza By Mario Toneguzzi Toronto-based General Assembly Pizza has launched what it describes as the world’s first pizza subscription service as it also plans to aggressively expand its product offering in the near future by opening a new concept in the market. "Since opening our doors in 2017, we have pushed for the best guest-experience possible — that's why our dough is 100 percent naturally leavened, that's why we have a purpose-built 400-square-foot pick-up and delivery area, and that's why we’ve launched a direct-to-consumer subscription-based ecommerce platform,” said Founder & CEO Ali Khan Lalani. “In 2020, providing the best guest experience means General Assembly Pizza has to be more than a restaurant. I'm proud to say that after almost six months of planning, many roadblocks, and countless pivots — all while maintaining our day-to-day restaurant operatio...

Latest Retail Insight, News, Information & Articles from all top sources for the Internet.

Search This Blog