Retail news round-up on October 8, 2014: Waitrose eyes expansion; eBay starts live auction site; Prices in British shops fall by 1.8% in September.
Waitrose eyes expansion into the north of England
Waitrose’s managing director Mark Price has suggested that it is looking to double its store numbers as the company eyes expansion into the north of England, The Telegraph reported. Waitrose had identified up to 300 sites as they aim to expand slowly in the next 10-15 years, as the supermarket looks into new areas.
He also warned about the ‘biggest single change’ faced by the high street since the advent of supermarkets. Price said Waitrose was not considering rapid expansion, adding communities and the shop’s partners were more important. Saying they had a ‘monastic expansion policy’, he confirmed the shops were planning to move north into areas where they would be welcome.
EBay starts live auction site
Online marketplace giant eBay has started a new live auction site in partnership with Sotheby’s and other companies, The Telegraph reported. Users can submit bids on items being sold in live auction houses including artwork and other collectibles.
Prices in British shops fall by 1.8% in September
According to the British Retail Consortium, UK retail shop prices last month dropped 1.8% year-on-year, driven down by a steep decline in prices for non-food products. Prices for non-food products plunged 3.2% on the year in September, with clothing and electricals seeing the sharpest price cuts. Food prices increased 0.3% in September.