Primark has warned its shoppers that they will see a marked price hike across all its stores in their Autumn Winter Collection. AB Foods, the owner of Primark, has managed to avoid most pressures of inflation but they cannot circumvent it any longer.
Considering the popularity of Primark stemming from its affordability and accessibility, the rise in prices is assumed to be discouraging to a lot of shoppers.
Deina Briggs said: “I won’t like it. I will definitely not come here again from the day it happens.”
Many were also concerned about how the price rise would result in people paying exorbitant sums for clothes that are essentially relatively low quality.
Sara Bartlett said: “I expect to pay a little bit more given the current climate but I would not want to spend a lot because it is not good quality clothing and it does not last. I just bought clothes from TK Maxx and I do not mind paying the higher price there because it is of much better quality. So if Primark and H&M were to sell at similar prices, I would go to H&M since it is streets ahead.”
Primark CEO George Weston has said that while they are set to increase costs, they are committed to ensuring their price leadership and affordability, especially when cost of living is rising across the board.
Another shopper Lily Nenn said: “It is not just clothes where prices are increasing, it is everything. I think it is more important that people cannot afford food and everyday essentials than if they cannot keep up with fashion and trends. It is definitely not ideal because clothes too are a necessity, but I don’t think it is anything to complain about when worse things are happening around the world.”
Primark has revealed that the cost of energy and raw materials have skyrocketed in the last few months and cost of workers have also increased so they need to raise prices to keep up.
Chris Palin said: “I’m glad they are raising their prices. Finally, their workers can live beyond a hand-to-mouth existence.”
Despite a wide variety of opinions that are discouraging, Primark is expecting higher sales in the coming months as they are opening more stores and increasing their selling space.