Originally posted as LinkedIn article
A headline in the Daily Telegraph this morning over breakfast caught my attention “Savvy shoppers force down prices.” The article reported that the rising popularity of discount stores has forced prices down by 1.8% over the last year overall and this got me thinking. Have supermarkets given profit a bad name?
Don’t get me wrong it’s been widely reported that Britain has some of the highest food prices in Europe & hopefully discount stores like Lidl and Aldi can bring some equilibrium to the market so this is a positive move in that respect. My concern is that people see the profits made by the “big boys” in retail and apply the same measure to small local shops. Enterprise Rockers reported that micro business owners, which covers many of your local shops, earn 20% less than employees. Yet I know from experience that people who would never go into Tesco’s and ask for a discount if one wasn’t advertised will ask a small local shop for one. Continue reading