Shop Prices fell by 1.6% in August compared to a decrease of 1.3% in July, with non-food prices falling by 3.4% compared to 2.9% in July and food inflation easing to 1.3%. All are below the 12 and six-month average price decreases.
Consumers are turning to greater digital engagement both online and in-store, as well as switching to making values-driven buying decisions as retail enters a new phase during the coronavirus pandemic.
Despite stores across Europe and the UK reopening and those in the US staying open, shoppers are turning more and more to mobile technology to enhance and secure their shopping experience – reshaping retail forever.
The lockdown has fuelled a boom in retail subscription services, with research showing that UK consumers now have an average of seven per household and spend around £46 a month – £552 a year – on subs.