{"id":164498,"date":"2021-03-31T07:39:22","date_gmt":"2021-03-31T07:39:22","guid":{"rendered":"https:\/\/www.theindustry.fashion\/low-demand-and-heavy-discounting-on-fashion-keeps-shop-prices-down\/"},"modified":"2021-08-06T12:10:48","modified_gmt":"2021-08-06T12:10:48","slug":"low-demand-and-heavy-discounting-on-fashion-keeps-shop-prices-down","status":"publish","type":"post","link":"https:\/\/www.theindustry.fashion\/low-demand-and-heavy-discounting-on-fashion-keeps-shop-prices-down\/","title":{"rendered":"Low demand and \u201cheavy discounting\u201d on fashion keeps shop prices down"},"content":{"rendered":"
Non-food shop prices fell by 4% in March, 2021, the fastest rate of decline since May,<\/strong> 2020, according to the BRC-Nielsen Shop Price Index.<\/p>\n <\/p>\n \u201cHeavy discounting\u201d on clothing is cited as a significant factor,<\/strong> and the March decline of non-food prices was similar to the drop of 3.9% in February, 2021.<\/p>\n British Retail Consortium (BRC) CEO Helen Dickinson said:\u00a0\u201cRetail prices fell again in March as the third consecutive month of lockdown led many non-food retailers, especially clothing, to heavily discount their products. Low demand and intense competition online will help thrifty consumers find the bargains<\/strong> they are looking for.<\/p>\n \u201cPrices of fashion and footwear have seen double digit declines<\/strong> in 11 of the past 12 months, highlighting how those worst hit have been working hard to tempt consumer spending.\u201d<\/p>\n Mike Watkins, Head of Retailer and Business Insight at Nielsen, added: \u201cWith consumer spend limited by pandemic restrictions, non-food retailers\u00a0are keeping any supply side driven price increases\u00a0to a minimum,<\/strong> and in some cases are reducing prices\u00a0to\u00a0encourage shoppers to maintain spending in the run up to Easter.\u201d<\/p>\n