UK lifestyle clothing brand Weird Fish has announced it is freezing prices for its spring/summer trading period in response to the rising cost of living pressures.
The announcement comes as non-food retail inflation tipped its highest rate since 2011 in March at 1.5%, with consumers seeing their fifth consecutive month of rising prices.
Weird Fish said that as opposed to increasing prices as a result, it is freezing prices to build and retain customer loyalty throughout the “challenging” trading period, through “strategic” cost planning and collaboration with its network of suppliers.
The retailer added that it has always had “good relationships” with its suppliers which is a key reason why Weird Fish has been able to keep prices as they are.
John Stockton, managing director at Weird Fish, said: “Cost pressures are at an all-time high throughout the supply chain, so hiking prices seems a logical step for many retailers to ensure financial stability. However, we’ve looked at the bigger picture at Weird Fish and considered the long-term impacts such a move would have on our loyal customer base.
“The coming months will no doubt bring more challenges as inflation rates fluctuate, but for now we are doing everything we can to keep our products financially accessible and appealing. We’re hopeful for a more positive spring/summer season to help the fashion retail industry get back on track.”