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News - 12 July 2008
Never trust a poll
Last week we reported the findings of a Drapers survey suggesting Primark might lose more than 40% of its customer base due to bad press. This week we are bound to report that contrary to expectations Primark has turned in a sales increase of 20% to June 21.
The 40 weeks leading up to June 21 and including the period of controversial press showed an increase in sales of 20%. This highlights the fact that price is a much bigger driver than ethics when it comes to shopping particularly when the atmosphere on the high street is loaded with doom and gloom and talk of recession.
At times of recession people shopping for fashion will either buy up (choosing to invest in classics that will last several seasons) or down (going for bargains that they don’t expect much mileage from but will see them through a lean patch). The majority of people tend toward the latter option, which bodes well for retailers such as Primark.
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