New Look - Cheaper Prices!
As New Look faces up to the reality of declining sales figures and higher costs of trading on the UK High Street, they have announced a radical strategic plan centred around selling 80% of their clothing ranges for under £20. Will this policy of slashing prices really entice more shoppers into their stores or will the growing trend for online shopping for clothing continue. The growth of consumers 'show rooming' (using the physical store to try on clothes and then finding them cheaper online), is a worrying one for high street retailers but is simply cutting prices enough or will New Look shortly become 'Old News' like so many other UK retail names of recent months?
[Click on image to read full BBC News article]