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31st July 2008

Independent retailers are working hard to keep prices down

Small retailers across the UK are doing everything they can to shield consumers from prices rises, an industry expert has said.

Richard Dodd, a spokesperson for the British Retail Consortium (BRC), stressed that retailers were not buckling in the face of the current economic downturn.

Instead, he suggested that looking at the ways they would reduce their costs so that consumers would not be impacted by rising prices. This includes negotiating hard with wholesalers in a bid to secure the best possible deals.

In addition, Mr Dodd said many independent retailers were "discounting heavily".

"There are a whole range of very high-profile price cuts and promotions playing along," he added.

"Retailers are working very hard to keep prices down for customers because they know that customers are short of spare money and also to tempt those cash strapped customers in to buy those larger items that they might not otherwise feel inclined to buy."

The result of this is that "customers who actually have money to spend" are finding bargains, Mr Dodd concluded.

Recently, the Confederation of British Industry suggested that 61 per cent of small retailers thought their sales were lower in the first half of July than they were a year ago.

 

(c) 2008 Adfero Ltd.

 

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