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Primark cuts prices on hundreds of items as online rivals intensify
The retailer is lowering prices on items such as jeans, jumpers and socks as it navigates weaker like-for-like sales and rising pressure from Shein and Temu.
Primark said it will lower prices on hundreds of clothing items, including jeans, jumpers and socks, in a bid to attract shoppers amid an online price war. BBC Business reports that the move comes as competition from ultra-low-cost Chinese retailers and the wider cost of living pressures have started to deter some customers from buying in stores.
The company has more than 190 UK stores and has been experiencing a drop in like-for-like sales, a key retail industry metric. Retail analyst Natalie Berg said the size of the price cuts is surprising for a low-cost retailer, but she argued that competitors like Shein have effectively set a new baseline for prices.
BBC Business also noted that Primark is facing not only Shein and Temu, but additional online rivals such as TikTok Shop and Vinted. Berg said Shein and Temu can undercut traditional retailers in part because they do not pay for physical locations and ship into the UK with most packages exempt from import duties, an exemption that is set to end in October 2028.
The announcement precedes Associated British Foods' plan to spin off Primark onto the London stock market next year. Berg said Primark's strategy is likely aimed at pulling customers toward low-cost staples, similar to how supermarkets use discounted essentials to win repeat visits.