Retail news round-up on April 6, 2016: Shop price deflation continues in March and Moss Bros prepares to enter the Middle East this month.
Shop prices down again in March
Shop price deflation continued last month due to retailers’ ongoing price investment and continuing intense competition.
Prices in British shops declined 1.7% year-on-year in March, recording its smallest amount of fall since August 2015, according to the British Retail Consortium (BRC).
Food prices were down for the second month in a row, falling 0.4% year-on-year in March.
Non-food prices dropped by 2.6% year-on-year last month as retailers continue to respond to market conditions with bargains and promotions
BRC chief executive Helen Dickinson said: "Despite consumer confidence remaining at zero, a relatively benign economic environment and a fiercely competitive market will see retailers continue to respond to their customers with prices and promotions to maintain market share as the Spring season kicks off."
Moss Bros to debut in Middle East with Dubai standalone store
Formal menswear specialist Moss Bros is gearing up to venture outside of the British Isles and Ireland, The Guardian reported.
The suit retailer is looking to foray into the Middle East with plans to set up a new standalone outlet in the Ibn Battuta shopping mall in Dubai this month.
Moss Bros chief executive Brian Brick said: “We see international expansion as an opportunity for the business. We are exploring the Middle East and this will be a trial run, if it goes well we will look into opening further stores.”