Huge homeware retailer to CUT prices on 1,000 products after shipping costs fall
A HUGE homeware shop is slashing prices 1,000 products in a rare move that's good news for cash-strapped customers.
Dunelm has become one of the first retailers to save shoppers money by dropping its prices.
The retailer, which counts Instagram clean influencer Mrs Hinch as a fan, is passing on price cuts to shoppers from a fall in shipping costs.
Lockdowns during the pandemic caused huge supply chain blockages around the world.
It meant the cost of shipping goods from China to Britain skyrocketed with container prices increasing from £1,000 to £20,000.
Now, as shipping costs have fallen back to pre-pandemic levels, Dunelm, has made a move to discount prices.
READ MORE IN MONEY
Over 1,000 products over the next two weeks will have lower prices, with an average fall of 14%, or £11.76.
Nick Wilkinson, Dunelm chief executive, said: "Giving our customers great value and quality is in Dunelm's DNA, and we don't intend to stop now.
"Our customers can trust us to do the right thing and passing on cost savings as shipping costs reduce is just one way we can help them during challenging times."
Example of some of the price cuts include an Ottoman bed which will be reduced from £999 to £799 and a London Wall mirror has been reduced by £20 to £55.
Most read in Money
A side table has had £20 knocked off taking it to £29 and Dorma pillowcases have also been lowered from £13 to £10.
Campaigners often argue that shops are quick to pass on costs to shoppers but slow to share the benefit when they fall back down.
The move is also designed to boost Dunelm’s sales as the cost of living crisis is prompting shoppers to rein in their spending and prioritise their budgets towards going away on holiday and other leisure experiences.
Dunelm, which started out selling curtains from a market stall in Leicester, now has 179 shops across the UK and employs 11,000 people.
Furniture retailers, such as Dunelm, were particularly badly hit because a number of products are sourced from Asia.
Plus bulky, heavy furniture requires more containers than other items, such as clothing.
The result was many retailers passed on the extra shipping costs to shoppers.
Prices have also shot up as shops grapple with higher energy costs and rising staff wages.
Last year Mr Wilkinson warned shoppers to brace for “accelerated” price increases amid surging costs.
READ MORE SUN STORIES
Furniture prices have risen by 11.8% compared to a year ago, according to inflation figures by the Office for National Statistics.
However, the level of price increases has started to ease with March’s month-on-month price increase edging higher by 1.3%.
Do you have a money problem that needs sorting? Get in touch by emailing [email protected]