It was the month before Christmas, and all through the town, shoppers were bringing their budgets down…
Times are tight, and it can make shopping tough. No one should go without, especially as Christmas approaches, but most of us are finding that we need to tighten our purse strings a little more than we might like.
Thankfully, retailers want to help. Whether it’s by freezing prices, or launching value ranges that protect your pocket, companies including ASDA, M&S, Boots and Currys are stepping up and responding to tough times.
Price Freezes
As inflation continues to rise, price freezes are few and far between. However, ASDA has risen to the occasion, having ‘Dropped and Locked’ the price of over 100 products for the duration of 2022, because no one should worry about being able to afford to eat. They aren’t alone either, as Boots has announced a price freeze on 1,500 of their own brand products, and Superdrug has made the same promise with 130 of their own-brand lines; both are also due to last until the end of 2022.
Rent-a-gift
Other retailers have developed new schemes to make their customers’ money go further. This year, consumers can swap their shopping for renting at LK Bennett, M&S, Flannels, Fenwick and Decathlon, to get more for their money.
At clothing retailer, LK Bennett, customers can add styles to their virtual wardrobe, which they will receive two of for the duration of a month. At the end of this period, customers exchange their items to get more eye-catching pieces to spruce up their wardrobe. It’s a great option for keeping fashion affordable. M&S have opted for a similar option, providing shoppers with six or seven-piece collections for five days for the cost of £39. It’s ideal for shoppers who have a run of Christmas events that call for new outfits.
Alternatively Fenwick and Flannels are both offering the option to rent high-end designer pieces at a fraction of their retail price. Fenwick has a minimum rental period of three days (perfect for weekends), whilst Flannel’s minimum is four days. Each has other options available, in case shoppers find the perfect piece and want to keep it for an extended period to wear, rewear and rewear again!
For those whose priorities lie less in fashion and more in fitness, Decathlon also has a rental service to make big ticket items accessible, even on a smaller budget. Customers can rent paddle boards, kayaks and e-bikes from £20 per day, so that they can have (or gift) exciting experiences over the festive season.
Ranges that protect your pocket
Some retailers are launching new ranges, or expanding value ranges, in order to put more products on the market that tick the affordability box. These retailers include The Very Group, Poundland, Asda and Boots.
Asda is continuing to expand their ‘Just Essentials’, range. There are currently 267 lines available, making everyday products accessible for tighter budgets. From groceries to cleaning products, Asda is providing a range of necessities.
The Very Group is taking a similar approach, launching ‘Everyday', a new range for fashion and homewares. Their prices will be around 20% less than its own-brand range, with around 85% of items available costing £30 or less.
Asda is keeping food affordable; The Very Group has fashion and homewares covered, and Boots is keeping the price of essential toiletries, health and beauty products low. All of their value products (also called ‘Everyday') are priced at £1.50 or less and include haircare, dental care, sanitary products and other toiletries.
Trade Tech for Discounts
Tech-gifts are popular around Christmas, but often come with a hefty price tag. Currys is tackling the financial concerns around gizmos and gadgets with their exchange programme, which offers shoppers money off their purchases when they bring in second-hand or broken technology. It’s a great way for consumers to combine clearing clutter with saving cash.
Christmas will be tighter for everyone this year, but there are plenty of opportunities to cut down the cashflow by utilising the offers and systems offered by the retailers themselves. Whether it is renting an outfit for the big day, rather than buying a new one, or making use of the value ranges on offer, budgeting doesn’t need to be rocket science.