Primark has announced price reductions on hundreds of popular products as it faces growing competition from online retailers like Temu, Shein, and Vinted. The high street chain aims to 'reaffirm its place' as a value destination.
New Lower Prices on Key Items
Among the cuts, women's velvet plush leggings will now cost £6, while men's cosy hoodies are available from £9 each. The move follows customer complaints that Primark has become more expensive, with one student stating the shop has 'definitely got more expensive'.
Sales Decline and Competitive Pressure
Primark reported a 2.2% fall in like-for-like sales during its third quarter ending in June, blaming a 'challenging consumer environment' and the rise of online competitors. Shein, for example, sells dresses for as little as £3, while Vinted offers second-hand bargains and Temu provides discounted clothing.
Online stores can undercut traditional retailers because they avoid costs like store locations and import duties. Social media users have noted Primark's awkward position, with @CramberryCheese1997 saying: 'Primark has found itself in an awkward middle ground. It used to be the dirt cheap place for clothes. But now you got people buying their really cheap stuff from Shein and Temu, and you've got the likes of Next and M&S sitting a class above.'
Primark's Response
Matt Houston, Chief Customer Officer, said: 'Value matters to customers today more than ever and for more than fifty years customers have trusted us as the destination on the high street for great value fashion at prices you can’t find anywhere else. We want to continue to lead the way in shaping what affordable fashion looks like and give our customers the confidence that they can always trust Primark for the very best prices but without compromising on style or on quality.'
Primark has been approached for further comment.
