Shopper the winner as prices fall SHOP prices fell by 1.7 per cent in December, the twentieth consecutive month that customers have paid less for their shopping baskets, according to the latest BRC-Nielsen Shop Price Index. BRC director general Helen Dickinson said: “This is an incredible run of good fortune for consumers and in the medium term at least looks set to continue. “A number of key commodities in the retail supply chain, in particular, oil, have fallen dramatically recently and the impact of these falls will continue to make its way through to shop prices for some time to come.” The BRC said deflation isn’t all bad news for retailers as the Producers Price Index, which tracks the cost of raw materials to producers, is deflationary which means that retailers have seen significant decreases in their own costs. However, fierce competition, the hallmark of the UK retail industry, has resulted in these savings being passed on directly to consumers. “It’s a win-win scenario that many are predicting will continue long into 2015,” said Ms Dickinson. Mike Watkins, head of retailer and business insight at Nielsen, said: “The high levels of discounting across most retail channels in 2014 will have given a boost to sales and [...] leedsinnews/shopper-the-winner-as-prices-fall/
Posted on: Tue, 06 Jan 2015 19:15:59 +0000
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