Primark refines pricing strategy with permanent price reductions

Primark is permanently reducing the prices of 26 percent of its fall/winter collection. The price reductions are part of the international "Iconic Value" campaign, according to a press release from the retailer.

A Primark spokesperson told FashionUnited that the prices of the items in question are on average 10 percent lower than last year. This includes hundreds of products across womenswear, menswear, kidswear, nightwear and basics.

The price reductions are permanent. "Iconic Value" is not a temporary campaign but the visible result of a broader international strategy, according to the spokesperson. With this strategy, the retailer aims to more explicitly highlight its value for money.

According to the spokesperson, Primark is making the price reductions possible by simplifying its product range. "By building our collections more selectively, using fewer price points and focusing on high-demand products, we are removing unnecessary complexity from our product range. This allows us to continue offering competitive prices while simultaneously investing in quality, fit and style."

The measure responds to consumers who are more critical of their spending, according to the company. "Customers are paying more attention than ever to affordability and what they get for their money. That is why we are making our competitive prices clearly visible in-store again," said David Swann Lassche, general manager of Primark Netherlands, in the press release.

As examples of the price reductions, Primark mentions a women's Cocoon Yarn jumper dropping to 19 euros (a 6 percent reduction), a pair of women's Max Warm Velvet Plush leggings going from nine to seven euros (a 14 percent reduction), and a women's coat with its price falling from 28 to 26 euros.