Cash advance could maximise impact of retail price drop
(10 November 2005)

Shop prices are lower than they were a year ago, according to the British Retail Consortium (BRC) and a cash advance could help you to strike while the iron is hot.

The BRC's shop price index for October showed that prices are overall 0.04 per cent lower than at this time last year, and that non-food items have experienced a particularly marked decrease to the tune of 1.07 per cent.

Food prices themselves remain higher than in October 2004 but dropped 0.69 per cent below the figure recorded this September. Overall, shop prices saw a 0.96 per cent decline between September and October this year.

BRC director general Kevin Hawkins pointed to competition and sales promotions as a primary factor for the decrease in non-food prices.

He said: Overall shop prices are lower than this time last year, driven by the need to stimulate consumer spending and also discounting and promotions for Halloween and Bonfire Night.

Clearly retailers are doing what they can to keep prices down and build momentum in the crucial run-up to Christmas, despite pressure on margins.

With competition bound to remain hot and thus impacting positively upon consumers' wallets, now could be a good time to make a short term loan go a long way as the festive period kicks in.


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