Analysts are calling the UK’s January price decline “historic”–poor demand, post-holiday shopping fatigue, and discounted winter stock contributed to a fall in clothing prices of an unprecedented 7.7%, according to the BRC-Nielsen Shop Price Index.
Helen Dickinson, director general of the British Retail Consortium (BRC), told just-style that retailers discounted less overall merchandise, compared to last year, but “where discounts were applied, they were deeper.” Prices on accessories, children’s apparel, and women’s apparel fell hardest, followed by footwear and menswear.
Prices are expected to rise later this month, as retailers empty their discounted winter stock and welcome their full-priced spring/summer collections.
