UK ‘worst hit in Europe’, says Poundland
Poundland owner Pepco said British consumers had been particularly hurt by the rising cost of living, which was having an impact on spending.
In an update, the company said: “Specifically in the UK, the cost of living crisis has impacted customers’ disposable income as they even cut back on essential short-term purchases.
“Our continued focus on reducing the cost of doing business means we are able to offset some of our input inflation, allowing us to protect prices for all of our cost-conscious customers while absorbing ourselves part of the inflation of inputs, as evidenced by the decline in our gross margins.
good to give away
It comes as Lidl became the first major supermarket in the UK to introduce a new label in stores which will help those struggling to pay for their food.
They launched the ‘Good To Give’ trustmark which aims to diversify donations to UK food banks.
Shoppers wishing to donate to food banks can find the tagged foods on the shelves of all Lidl stores in the UK.
The signage will appear on 30 products across all Lidl GB stores, including canned fruit, noodles and vegetables.
Lidl GB chief executive Ryan McDonnell said: “We have listened to feedback from our charity partners on how best to support them at this time.
“Through these conversations, it has become clear that we can play a leading role in helping those who rely on food banks maintain more nutritious and balanced diets by encouraging our customers to give a little differently.
“We hope more retailers will adopt the ‘trust mark’ so that we can work together as an industry to help more people access the balanced and nutritious diet they need.”
Steve Butterworth, CEO of Neighborly, added: “Through our work with local charities and good causes, supported by our latest community surveys, we can see how the cost of living crisis is driving a sharp rise in the demand for food and frontline banks. services.
This will only increase in the months to come. With the launch of this new initiative, Lidl demonstrates that they are truly committed to finding innovative ways to support their customers and local communities. »
Related: Hundreds of hard-core Britons line up at pawnshops to cash in on £150 council tax rebates