Today in retail: Tesco plagued by pricing pitfalls

The grocer was apparently guilty of promoting out-of-date offers on pricing labels, leaving customers paying the full price when they reached the checkout.

According to a BBC investigation, some multi-buy deals were still being offered months after the deductions had ended.

It raises the question of whether the UK’s biggest retailers will ever turn to electronic shelf pricing to eliminate such pitfalls.

Tesco actually trialled the technology on these shores back in 2013, but it was never rolled out.

Its then-chief information officer Mike McNamara said at the time that the technology was “the future” and would allow the supermarket giant to “change prices instantly” to match competitors.

Yes, that technology would be expensive to implement, but perhaps less costly than today’s bad press.

Retailers may not have evolved their pricing labels, but the face of the high street is certainly changing.

Today we revealed that B&Q is the latest big-box retailer launching at a smaller high street format – following in the footsteps of the likes of Ikea and Topps Tiles – despite a 0.8% drop in high street footfall last month.

Quote of the day

“Reports in the weekend papers about Clintons are false. In the last five years, parent company American Greetings has invested multi-million pounds in a major store refurbishment programme, and there are plans in place for further investment going forward.” 

– A statement from Clinton Cards and parent company American Greetings responding to reports that the retailer could shutter up to 120 stores in the UK

Today in numbers

3,000

The square footage of B&Q’s small-format high street store, which is set to open in London Next month.

1.3%

The drop in retail footfall last month compared to January 2016, according to the BRC-Springboard’s figures.

Tomorrow’s agenda

Be sure to check out our website tomorrow as we reveal the top 50 retailers by sales during the 2015/16 financial year.

Luke Tugby, deputy news editor