Primark is cutting prices across hundreds of bestselling products amid intensifying competition from online rivals Shein and Temu.
The retailer has reduced prices by as much as 29 per cent across selected womenswear, menswear and childrenswear lines under its new “Iconic Value” initiative, which is launching across all 19 of its markets.
The permanent reductions include women’s boyfriend pyjamas, which have fallen from £17 to £13, while a single-breasted coat has dropped from £26 to £22. A men’s brushed-check overshirt has been reduced from £25 to £20.
Other lower-priced staples include cotton-rich jeans for £9, women’s jumpers for £16, velvet plush leggings for £6 and men’s sweatshirts and joggers for £10 each.
Primark said it had also invested in improving the quality, fit and durability of the products included in the initiative, while simplifying ranges and introducing clearer in-store signage to make its entry price points easier to find.
Chief customer officer Matt Houston said “value matters to customers today more than ever”, adding that the retailer wanted shoppers to trust Primark to deliver low prices without compromising on quality or style.
Primark is currently facing mounting competition from ultra-low-cost digital marketplaces including Shein and Temu, which have reshaped shoppers’ expectations around the cost and availability of fast fashion.
The decision also follows softer underlying trading at the company. Primark’s total sales rose three per cent during its third quarter as new store openings supported growth, but like-for-like sales declined 2.2 per cent In the UK, sales increased one per cent, with like-for-like trading broadly flat.
Parent company Associated British Foods said earlier this month that it was sharpening Primark’s focus on pricing and price perception, alongside increased investment in marketing and digital engagement, as it hopes to revive like-for-like growth.
The deepening emphasis on value was announced ahead of Primark’s planned separation from ABF. The group intends to demerge the retailer from its food businesses before the end of 2027, creating two separately listed companies.
Primark currently operates 486 stores across 19 markets, generates approximately £9.5bn in annual revenue and employs more than 83,000 people.
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