Rip off Britain

[Dedworth]

Two questions;

How do you think our prices for food and clothing compares to the other major economies in the EU?

Dunno - but this March 2011 UBS report states "UK food prices are rising more rapidly than most other OECD economies’ food prices, and have significantly outstripped food retailers’ cost inflation" - I read this that the price fixing supermarkets are ripping off UK consumers.

http://www.bbc.co.uk/blogs/thereport...cesfeb2011.pdf

I don't care too much about clothes prices they've not risen as much as food in recent years. Our spend on them is not as significant as the week in week out constantly rising food outlay.

What do you think are the net profit margins of the major supermarkets?

Tesco's 2010 net profit of £2.6 billion was 10% up on 2009. All this is being achieved by putting independent retailers out of business as they increase the land bank they sit on and open up Tesco, Metro, Macro and locals in every nook and cranny of the country.

Graham is 100% correct in saying "Naturally 5% of a few billion nets rather more than 20% of £100,000"

I think a few people on here will be surprised to see that it is NOT rip off Britain at all.

I don't walk around thinking the big 4 Supermarkets are some sort of Charitable Demi Gods "helping us save money" as Asda nicely put it so I'm happy to carry on knowing we live in Rip off Britain

[lastlid]

Tesco's 2010 net profit of £2.6 billion was 10% up on 2009. All this is being achieved by putting independent retailers out of business as they increase the land bank they sit on and open up Tesco, Metro, Macro and locals in every nook and cranny of the country.

Interestingly Tesco is just about to open a branch of Tesco Express on my doorstep, after opening a full blown branch in the main town Douglas. It is certainly rattling some of the natives and others are super happy. Mixed emotion on that one. It just depends on ones circumstances as to how these things affect the individual. Personally I am pleased to see Tesco here as it brings more choice and variety to this part of the Island but I still hanker for an Asda and / or a Lidl as I have always found the latter cheaper.

And yes, it might well affect the local retailers...that is one of the concerns. But on the flipside Tesco Express might give a better service etc.