The cost of a basket of goods has risen as much as £7 as supermarkets remove promotions to curb panic-buying during the COVID-19 pandemic. Data published by The Grocer indicates that prices of 33 chosen goods have risen across UK supermarkets in the last month to April 17, 2020.
Shops of those chosen items at Asda were £3.02 higher, while shoppers at Morrisons were £7.03 more, an increase of 9.6 per cent. The cost of a shop at Waitrose increased by £4.14. An average increase across all supermarkets of £2.60 was measured.
Individual items saw a bigger increase. For instance, instant coffee went up by more than £1 (£4.50 to £5.86 since March), while the price of laundry detergent increased by around £2 (from £7.90 to £9.40) since the end of February.
With many concerned about these rising costs amidst nationwide furloughs and job losses, supply chains and supermarkets are under pressure to maintain stock levels while keeping prices low. One way that this can be helped is by using retail technology, particularly through consumer apps.
Will Broome, CEO of Ubamarket, a white label supermarket shopping apps that guides shoppers to items, gives personalised offers and allows consumers to pay in-app, has commented on how technology can help supermarkets and shoppers keep the prices of their weekly shops down.
“This news that a regular basket of groceries has jumped in price so dramatically is potentially worrying for many Brits. Supermarkets and their teams are doing an absolutely fantastic job at the moment, but there are ways that they can maintain excellent service and stock levels without hiking prices.
Retail technology can monitor stock levels and with in-app shopping lists, customers can build their list away from the store and check stock levels before even stepping foot in the shop. At these times of social distancing, this could prevent unnecessary footfall in larger stores and make local stores a more appropriate and safer alternative.
Furthermore, the Ubamarket Scan, Pay, Go app offers push notification-enabled personalised offers, which can review shopping habits and promote selected items to customers, giving them a better experience while helping them manage their shopping budget. Retail tech, implemented in the right way, has the capacity to help supermarkets monitor stock levels, promote cheaper alternatives and quell steep price rises, benefiting millions of shopping and their bank balance.”