British Retailers Offer Discounts to Lure Customers After Lockdown

Retail business across Britain offered deeper discounts in a bid to get customers back into their stores after the country emerged out of

British Retailers Offer Discounts to Lure Customers After Lockdown

Retail business across Britain offered deeper discounts in a bid to get customers back into their stores after the country emerged out of lockdown. Recent research by the British Retail Consortium (BRC) reveals that average shop prices declined by 1.6% YoY during August after falling by 1.3% in the previous month.

Non-food prices registered a sharper fall in August, from 2.9% in July to 3.4%, driving the decline in the overall reading. Meanwhile, food inflation also fell from 1.5% in July to 1.3% in August, as availability of fresh produce improved.

Chief executive at BRC, Helen Dickinson, notes, “Many retailers have continued to run promotions and sales in order to entice customers to spend and make up for lost ground during lockdown.”

Latest industry data reveals that despite the easing of lockdown measures, retail sales are yet to rebound as consumers remain more cautious about venturing out and spending their money. The slight uptick in retail sales could be a temporary one driven by pent-up demand, while consumers remain hesitant to make purchases due to the uncertainty in economic conditions.

ABOUT THE AUTHOR See More
Arslan Butt
Index & Commodity Analyst
Arslan Butt serves as the Lead Commodities and Indices Analyst, bringing a wealth of expertise to the field. With an MBA in Behavioral Finance and active progress towards a Ph.D., Arslan possesses a deep understanding of market dynamics.His professional journey includes a significant role as a senior analyst at a leading brokerage firm, complementing his extensive experience as a market analyst and day trader. Adept in educating others, Arslan has a commendable track record as an instructor and public speaker.His incisive analyses, particularly within the realms of cryptocurrency and forex markets, are showcased across esteemed financial publications such as ForexCrunch, InsideBitcoins, and EconomyWatch, solidifying his reputation in the financial community.

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