82 426
Fashion Jobs
SACK OFF 5TH
Asset Protection Uniform Guard
Permanent · PARAMUS
SACK OFF 5TH
Asset Protection Investigator
Permanent · SHREWSBURY
SACK OFF 5TH
Fulfillment Associate Part-Time
Permanent · LAWRENCEVILLE
NGG
Sales Supervisor
Permanent · NEW YORK
COTY
Assistant Marketing Manager, us Luxury - Burberry Makeup
Permanent · NEW YORK
NORTH CAROLINA STATE
Enterprise Research Administration Training Manager
Permanent · RALEIGH
NORTH CAROLINA STATE
Academic Coordinator
Permanent · RALEIGH
CENTRIC BRANDS
(Assistant) Manager, Logistics (Origin Carriers)
Permanent · NEW YORK
CENTRIC BRANDS
Keyholder, Robert Graham - Scottsdale
Permanent · SCOTTSDALE
CENTRIC BRANDS
Keyholder, Robert Graham - Las Vegas (Forum Shops)
Permanent · LAS VEGAS
MICHAEL KORS
PT Sales Supervisor, Walt Whitman Shops Huntington Station NY 11746
Permanent · HUNTINGTON
JCREW
Associate Manager
Permanent · CHARLOTTE
RAG & BONE
Account Executive
Permanent · NEW YORK
RAG & BONE
Senior Coordinator, Retail Marketing
Permanent · NEW YORK
MACY'S
Manager, Asset Protection
Permanent · FRIENDSWOOD
MACY'S
Asset Protection Detective, Southlake Mall - Part Time
Permanent · CLAYTON
MACY'S
Asset Protection Detective - Multi-Store, South Shore Plaza - Full Time
Permanent · BRAINTREE
MACY'S
Asset Protection Lead Detective - Multi-Store, South Shore Plaza - Full Time
Permanent · BRAINTREE
MACY'S
Manager, Asset Protection - Multi-Store
Permanent · FAIRVIEW HEIGHTS
STAND OUT FOR GOOD
Brand Rep
Permanent · LEAWOOD
RALPH LAUREN
Associate Manager
Permanent · TEXAS CITY
RALPH LAUREN
Associate Manager
Permanent · LEEDS
Published
May 31, 2022
Reading time
2 minutes
Download
Download the article
Print
Text size

Primark exec says some of its customers will spend less as its prices rise

Published
May 31, 2022

Primark’s finance chief has said that some of the budget-focused chain’s customers will cut back on spending with the business due to it being forced to raise prices in the face of surging costs.


Reuters



John Bason said in a BBC interview that he regrets the company having to lift its prices and that it's still committed to “affordability for everyone”. 

He said that there are “some consumers who would normally be spending more and probably would come into Primark, and I think there would be those that have very, very constrained budgets and probably would shop less with us as a result of this”.

A number of fashion retail chains have openly said that they'll be raising prices (including Next and Superdry), but Primark has committed to maintaining price levels for its spring and summer offer. It will only start charging higher prices from the autumn season and these will be “selective".

And so far, — ahead of those price rises — it seems that Primark isn't seeing a “major impact” from the cost if living crisis.

In fact, he insisted that overall footfall and like-for-like sales in the UK at least have been "on a strongly improving trend this year" as the company continues to recover from the pandemic.

The business isn't quite back where it was pre-pandemic but he said it's seeing a "big pick-up in sales" relating to renewed activities such as travelling, the return to the office and socialising.

However, Bason said price rises are unavoidable. He explained that “Russia's invasion of Ukraine has really changed the economic environment and inflation in particular” but that the company will be maintaining its price gap compared to other retailers.

He also thinks that people predicting the demise of physical shopping are wide of the mark given the revival of in-person shopping since lockdowns ended.

Copyright © 2024 FashionNetwork.com All rights reserved.