Following a couple of years of economic instability and inflation, Pound Wholesale can announce that we have seen a reduction in costs, and have passed on further savings wherever possible for our customers by reducing product prices.
We’re happy to reveal that products across various ranges and categories are cheaper for our customers.
We’re optimistic that price reductions can help our retail, business and trader customers thrive amid continued economic uncertainty, offering further savings for customers and drive prosperity.
We have previously reported rising costs, largely driven by Brexit, the Covid-19 Epidemic, the conflict in Ukraine and the general rise caused by UK inflation, particularly in 2022, with the inflation rate as high as 8.5%.
This also included a shock rise in costs due to the Mini Budget in 2022.
For assistance, we’ve added a tag on product images and product pages to identify which items have gotten cheaper, and the percentage it has fallen by.
Why has Pound Wholesale Reduced Prices?
As numerous other industries and sectors have reported, Pound Wholesale has seen a fall in the cost of freight, fuel and currency conversion, meaning we’re able to reduce the prices on many products moving forward.
Over the last few weeks, prices on nearly 1,000 core lines have been reduced.
It’s been reported that Britain’s inflation could fall below 2% by the end of the year in a boost to public finances, partly driven by falling gas prices and a decline in the consumer prices index (CPI).
Which categories have seen the biggest price reductions?
Prices have gone down in over ninety of our categories and sub-categories.
The categories which have seen the most price decreases are DIY, kitchenware, garden, health & beauty, Marksman tools, cleaning, Dekton tools, hand tools, cooking and first aid supplies.
The average product price reduction does vary widely, with the highest average reduction being in gifts & toys, BBQ & picnic, painting & decorating, cooking, brooms, mops & brushes, screwdrivers & key sets, garden and camping categories.
The average overall price reduction on product prices across all ranges is between 11% and 12% percent, with the highest being at 48%.
Driving Our Customers Forward
In addition to providing quality products for retail and business, one of Pound Wholesale’s core responsibilities is to provide products at the correct price to accelerate prosperity in the UK market. For the vast majority of enterprises and organisations to remain effective and profitable, it’s essential they attain their products for a fair and competitive price.
As ever, Pound Wholesale remain committed to delivering the lowest prices possible. If we see further reductions, we will actively seek to reduce our prices further to ensure our customers are receiving maximum value. We are particularly focused on supporting businesses during what is still an economically uncertain period.