Retailers continue to cut prices to drive sales
Non-food retailers cut prices for the 27th consecutive month in June, with interiors retailers leading the way.
Non-food inflation slowed from 2.5% to 1.9%, according to the BRC-Nielsen Shop Price Index.
‘Shoppers wishing to invest in their home won't be disappointed with great deals to be found in furniture and flooring and gardening and hardware in particular,’ says Helen Dickinson, BRC director general.
‘Consumer confidence hit a 15 year high which suggests that shoppers will feel more comfortable about buying major purchases. It also suggests that consumer spending, one of the main drivers of the recovery, should remain robust over the summer.’
‘Retailers continue to use price cuts and promotions to stimulate sales which is helping to maintain shop price deflation, and we see little evidence to suggest that prices will rise in the near future. Deflation and price led competition will continue to be a key driver of sales growth for some time yet,’ says Mike Watkins, Nielsen head of retailer and business insight.