{"id":167499,"date":"2020-09-30T08:32:00","date_gmt":"2020-09-30T08:32:00","guid":{"rendered":"https:\/\/www.theindustry.fashion\/shop-prices-continue-to-fall-as-retailers-try-to-woo-back-shoppers\/"},"modified":"2021-08-06T12:07:24","modified_gmt":"2021-08-06T12:07:24","slug":"shop-prices-continue-to-fall-as-retailers-try-to-woo-back-shoppers","status":"publish","type":"post","link":"https:\/\/www.theindustry.fashion\/shop-prices-continue-to-fall-as-retailers-try-to-woo-back-shoppers\/","title":{"rendered":"Shop prices continue to fall as retailers try to woo back shoppers"},"content":{"rendered":"
Shop prices continue to fall as retailers try to encourage more into stores and recover lost ground<\/strong> due to the Covid-19 restrictions on social distancing, according to the British Retail Consortium (BRC).<\/p>\n <\/p>\n The BRC-Nielsen shop price index revealed prices fell in September by 1.6%<\/strong> compared with August. They had fallen by the same amount the month previously.<\/p>\n Non-food goods fell 3.2% in September<\/strong> compared with a 3.4% drop in August, but it was offset by a 1.2% rise in food prices.<\/p>\n The BRC said it was another good month for consumers, but warned a no-deal Brexit could cause issues<\/strong> as new tariffs in January could lead to supermarkets footing a bill of \u00a33.1 billion a year.<\/p>\n BRC CEO Helen Dickinson said: \u201cWithout a zero-tariff deal with the EU, supermarkets will be subjected to \u00a33.1 billion a year of tariffs on food and drink,<\/strong> which they will have little choice but to pass on to their customers as retail margins are so thin.<\/p>\n \u201cMany non-food retailers will also face large tariff bills,<\/strong> and as a result, the total cost to the industry and its customers would be much higher.<\/p>\n \u201cThe Government must prioritise a tariff-free deal,<\/strong> otherwise hard-pressed consumers will bear the brunt of price increases.\u201d<\/p>\n The September price fall of 1.6% is below the 12-month average price decrease of 1.1%,<\/strong> but above the 6-month average price decrease of 1.7%.<\/p>\n The non-food price decline of 3.2% in September is below the 12-month average price decline of 2.6%, but above the 6-month average price decline of 3.5%.<\/strong><\/p>\n Food inflation eased to 1.2% in September, down from 1.3% in August. This is below the 12 and 6-month average price increases of 1.4% and 1.4%, respectively.<\/p>\n Fresh Food inflation held at 0.2% in September. This is below the 12 and 6-month average price increases of 0.6% and 0.5%, respectively. This is the lowest rate of increase since February 2017.<\/p>\n Ambient Food inflation slowed to 2.5% in September, down from 2.8% in August. This is below the 12 and 6-month average price increases of 2.6% and 2.7%, respectively.<\/p>\n Mike Watkins, head of retailer and business insight at Nielsen, said the next rent payments will be a good indicator for which retailers are likely to survive the winter.<\/strong><\/p>\n He said: \u201cFood shop price inflation has slowed with supermarkets introducing new price cuts this month and non-food retailers had the additional challenge of selling through seasonal stock, disrupted by unpredictable weather.\u201d<\/p>\n","protected":false},"excerpt":{"rendered":" […]<\/p>\n","protected":false},"author":68,"featured_media":140391,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_exactmetrics_skip_tracking":false,"_exactmetrics_sitenote_active":false,"_exactmetrics_sitenote_note":"","_exactmetrics_sitenote_category":0,"footnotes":""},"categories":[16042,10585,6,10494],"tags":[10520,16269,10519,11408,13770,16268],"acf":[],"yoast_head":"\n