Well, Retail Week would say that, wouldn’t we? But those aren’t our words. That’s the editorial column in last Saturday’s Sun and there aren’t many better barometers of the mood of the man or woman on the street.
The relatively benign remedies proposed by the Competition Commission (page 18) show that it hasn’t found much wrong with the UK grocery market. As we have said all along, our supermarkets compete aggressively and that means that shoppers get a fair deal.
It didn’t need an expensive and time-consuming inquiry to discover that and it doesn’t need a raft of regulation to maintain it. The Commission has walked a fine line between being seen to do something to keep the politicians and pressure groups happy, and avoiding anything that would seriously upset the grocers.
The frustration is that without making any fundamental changes, it will introduce extra bureaucracy. If – and it is still a big if – the Government decides to implement it, the precise workings of the competition test will be highly contentious.
Customers benefit from successful supermarkets, but so does the economy. This week, Asda announced it will create 9,000 jobs this year, while Sir Terry Leahy writes in this week’s Retail Week on how he is helping young people get on the employment ladder (click here).
Supermarkets are good for the UK and this pointless inquiry has done nothing to disprove this. Once it eventually finishes, it’s time they were left to get on with their job.
Trust in the Retail Trust
The glittering royal reception held in honour of the Retail Trust’s 175th anniversary on Monday was deserved recognition of its work. Seeing so many people who have benefited from the Trust’s support showed first-hand just what a valuable job it does supporting retailers in need.
While its roots are in fashion, it exists to help retailers from all sections of the industry. It is a cause all retailers should give their support to.
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