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Retailers working hard to help consumers in a time of high inflation

With the latest Eurostat survey[1] showing inflation in the eurozone reaching 8.1% and likely to rise in the coming months, consumers are being hit by higher prices and higher energy costs while retailers face higher operating costs and rising prices for the products they buy in. Commenting on a new economic study by INSEAD[2] giving further evidence on how buying cooperation can bring about price reductions for consumers, EuroCommerce Director General Christel Delberghe said:

“Retailers have been doing all they can to cushion consumers from the impact of increases in commodity, energy and other product prices, but with narrow margins of typically 1-3%, they can only do so much to absorb price increases imposed by their suppliers. Numerous studies have shown the value of retail alliances in offering high-quality products at affordable prices, and improving customer choice while not restricting competition. A study released today by INSEAD reinforces earlier studies’ findings that international retail alliances lead to a significant reduction in consumer prices. Being a member of an alliance operating in a properly functioning competitive market enables retailers to pass on the benefits to their customers. In the case of the study, this meant consumers paying 12% less for a wide range of everyday products”.

[2] INSEAD - International Retail Buying Groups: A Force for the Good? The case of AgeCore/EDEKA

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