Latest news with #budgetshopping
The Sun
15 hours ago
- Business
- The Sun
B&M boss reveals huge change in stores and shoppers might be disappointed
B&M bosses have revealed a huge change in store and shoppers might be disappointed. The budget retailer has switched up its range to include products that are more expensive. 1 That's according to B&M's financial results for the year to March 2025. The group revealed revenues declined by 3.1% over the year to March 29, compared like-for-like with the previous year. The retail chain said cutting some of its prices had resulted in it making less money for products like homeware, toys, and electricals. However, including the impact of the 36 net new stores opened over the year, revenues grew by 3.8% to £4.5 billion. The group's pre-tax profit fell 13% to £431 million year-on-year, which it said was impacted by higher interest and finance costs. B&M, which has 777 stores in the UK and 135 in France, as well as 343 Heron Foods and B&M Express shops, said it faced a 'challenging' retail environment. Shoppers were affected by limited wage growth, especially for its lower-income customer base who faced a cut-off in Government 'cost-of-living' payments during the year, the company said. It also flagged heightened cautiousness to spend among consumers, and 'very subdued' garden spending due to poor weather at the start of its financial year. Furthermore, B&M said its own operations 'could have been better' and it was now addressing this. For example, it reduced prices on some general merchandise products in UK shops which drove a higher volume of sales, but dragged on the total value of sales over the year. B&M said it had adjusted its range to now include more products sold at a higher price, which had boosted both the volume and value of sales in recent months. The group said the year ahead would bring new challenges for the sector, namely higher labour costs and inflation. It is expecting to face a roughly £75 million hit from increased national insurance contributions, the higher minimum wage, and additional packaging taxes which came in from April. 'Work continues to reduce the impact of these pressures, through driving productivity improvements and sales volume growth,' B&M said. 'The underlying market trend towards discount retail continues, and the group's value proposition will continue to resonate with consumers navigating ongoing economic pressures.' How to save money at B&M Shoppers have saved hundreds of pounds a year by using B&M's scanner app. The scanner lets you see if an item's price is cheaper than advertised on the shop floor label. Products that are typically discounted are seasonal items and old stock that B&M is trying to shift. The app is free to download off the B&M Stores mobile app via Google Play or the Apple App Store. According to one ex-B&M manager, you'll want to visit your local branch at 10am on a Wednesday too. Here's how you can join the B&M bargain hunt: Download the B&M app for free on any smartphone with an App Store or Google Play. Once you've installed it on your device, click on the option labelled "more" on the bottom, right-hand side of the app home page. You'll then find an option that says "barcode scanner". Click on this and you'll open a camera screen. Use the camera to hover over the barcode of the product you wish to check. If the price comes up as lower, take it to the cash desk and it will automatically scan at the lower price. You don't need to sign up to the B&M app to use the barcode scanner.
The Guardian
2 days ago
- Health
- The Guardian
From showstopping summer dresses to wildflower seeds: what you loved most this month
With each month that passes, we learn more and more about our readers. For one, you clearly love a bargain – the top budget choice in our group tests is often your favourite. You also love to get outdoors, whether that's a camping trip or a walk in the local park. So it was no surprise at all to see that our favourite budget walking boots and camping mattress were among your favourites, too. The Guardian's journalism is independent. We will earn a commission if you buy something through an affiliate link. Learn more. Nor was it much of a surprise to see two bestsellers under £10: a bargain skincare pick much loved by Caroline Hirons and a wildflower seed mix to up the eco-friendliness of your gardens. Bargains aside, however, you also want to buy things that last, whether that's the vacuum cleaner that excelled in our thorough tests or a stunner of a dress to wear to weddings for years to come. Here's what you loved most in May. Garnier Body Repair body lotion £5.99 for 400ml at Amazon When we asked experts for the beauty products they've found gamechanging, we heard all kinds of recommendations, from fancy light therapy masks to vitamin C serums. But your favourite? This basic £5.99 body lotion. Of course, it might have helped that it was chosen by skincare guru Caroline Hirons. 'This incredible body lotion is my most used skincare product of all time,' she said. 'I've lost count of how many bottles I've got through. It has been around for 25 years, and my mum and nana used it almost as evangelically as I do.' Lee Rider loose jeans From £85 at Lee 'If you make one change to your wardrobe in 2025, switching to a loose jean shape should be it,' said Jess Cartner-Morley in her May style essentials. 'I have found the holy grail of jeans for grownups, which look cool but not ridiculous.' And many of you agreed, judging by the popularity of these jeans from heritage denim brand Lee. Medik8 Crystal Retinal Ceramide Eye £42 at Cult Beauty Beauty journalist Sabine Wiesel has tested plenty of eye creams and serums over the years – but perhaps what most qualified her to test 25 of them for us is the fact that she's afflicted with the issues they're designed to address. 'With undereye bags and dark circles revealing themselves when I haven't had enough sleep, and fine lines that began to appear as I hit my 40s, I'm the perfect candidate,' she said in our roundup of the best eye creams. Her favourite was this Medik8 formula, which contains retinal, an advanced retinoid 'known to work 11 times faster than standard retinol'. Her only negative? 'On a personal note, [that] I didn't start using this from an earlier age.' Simond inflatable trekking mattress MT500 £44.99 at Decathlon Camping season is upon us, and former science correspondent and regular camper Linda Geddes has been hard at work testing 26 camping mattresses. She tested each mattress on top of sharp stones, Princess and the Pea style, and left 20kg of boxes on them overnight to see which could avoid the midnight sag. Linda's top budget pick – this £44.99 inflatable mattress from reliable, affordable brand Decathlon – has been far and away your favourite. Colour block pleated midi dress £259 at John Lewis This showstopper of a dress was chosen as an ideal wedding-guest look by fashion writer Ellie Violet Bramley in our recent roundup of women's spring wardrobe essentials. 'The work of a popular recent collaboration between John Lewis and the British label Awake Mode, it's a beautifully bold rebuke to all those years of quiet luxury,' she wrote. 'Best worn for many years to come – and luckily the fit should mean it needs only very occasional (eco) dry cleaning.' Wildflower seed collection £3.89 at Amazon It's not often you can buy something that's beautiful, good for the environment, and cheap. But these £3.89 native wildflower seeds tick every box. 'An immaculate, weed-free lawn is becoming as taboo as an outdoor heater,' wrote professional gardener Matt Collins in our guide to making your lawn more eco-friendly. The lawn still plays an important role in many of our gardens, though, so a lot of you were tempted by the idea of introducing some biodiversity. We'd like to think that thousands of these flowers are blooming in your gardens by now. Shark IP3251UKT PowerDetect cordless vacuum cleaner £349 at John Lewis When we test products, we really test them: so when Andy Shaw rounded up the best cordless vacuums for us, he had to clean up flour, cat litter and pet hair (sourced from the local dog groomer) repeatedly, on both hard floor and carpet, with all 10 models. This Shark vacuum was his all-round favourite – and not only because it's an excellent cleaner. 'If there's one thing that makes cordless vacuum cleaners a pain, it's the emptying,' he said. That won't be the case with this one, though: 'It empties itself.' Native Union City Sling strap From £19.99 at Amazon Phone straps have become a must-have: 'On a practical level, it means you don't have to root around in your bag every time you need to check Google Maps for directions,' wrote deputy fashion and lifestyle editor Chloe Mac Donnell, and 'it could keep your mobile safer.' Your favourite of her pick of the best phone straps has been this 'minimalist, urban strap by Native Union, with nautical knots and an adjustable length to turn it from necklace to cross-body. One for the purists'. Merrell Moab 3 hiking boots Men's, £129.99 at DecathlonWomen's, £150 at Merrell Paddy Maddison has been back in the bogs testing men's hiking boots for the Filter – but the Merrell Moab 3s remain his favourite budget pick, and our readers' favourite. 'I'd recommend the Moab 3s to anyone looking for a comfortable, versatile hiking boot that won't completely drain their bank account,' he says. This versatility is their real strength. 'Whether you're strolling along coastal cliffs, bagging Wainwrights in the Lake District or traipsing around a field with the dog, this is the perfect boot for the job.' Mushroom wall light £38.40 at John Lewis 'In the past few years, rechargeable lights have become a mainstay,' said interiors expert Kate Jacobs in our guide to decorating small spaces. 'They work brilliantly in spaces where wiring is hard to access or looks ugly.' You've been loving this simple, dimmable design from John Lewis, which comes in eight colours and is now 20% off. Suspension trainer £19.99 at Decathlon Can you really fit a full-body workout into half an hour? Yes, according to personal trainer Nick Finney, in this guide to making the most of a power half hour. By attaching an affordable suspension band to the back of a closed door, and following the routine outlined in the article, you can 'improve strength while giving [yourself] a cardio workout, exercising your heart and lungs'.
CNA
6 days ago
- Business
- CNA
‘Treasure hunting' shoppers propel dizzying rise of Malaysia's dollar stores as inflation bites
KUALA LUMPUR: In the leaner days leading up to her payday each month, supermarket cashier Azura Hanib turns to her local Eco-Shop in Selayang, Selangor, for everyday items such as dishwashing liquid. At the budget-friendly chain store, most items, from biscuits to baby wipes, retail for RM2.60 (US$0.61), allowing Azura to stretch her dollar. 'Being able to buy things in small quantities – dish wash, a few exercise books – makes some difference," Azura, 44, told CNA while shopping with her 13-year-old daughter. "With how difficult life is, you really have to be mindful of every single cent," added the mother of four children aged 10 to 20. Since 2003 when it was started by businessman Lee Kar Whatt, his brother and two other people, Eco-Shop has expanded to over 350 stores across the country by catering to budget-conscious consumers. It became Malaysia's biggest initial public offering (IPO) so far this year on May 23, listing on the Main Market of Bursa Malaysia. It ended its first day of trading at RM1.20, above the IPO price of 1.13 per share, making its founder Lee a billionaire. The successful IPO highlighted the strength and potential of a business model offering consumers affordability amid economic uncertainty, analysts said. "Because everybody wants to save money, dollar stores are generally seen as recession-proof. That's where people go, especially those in the low-income (B40) and some in the middle-income (M40) bracket," said Vincent Lau, equities broker Rakuten Trade's head of equity sales. CNA takes a closer look at the rise of value chain stores in Malaysia and elsewhere, as well as what could curb their growth. RISE OF DOLLAR STORES IN MALAYSIA Starting with one RM2 store in the town of Gemas in Negeri Sembilan, Eco-Shop has grown to become Malaysia's leading dollar store chain and currently has 358 outlets across the country. In its prospectus, it said it plans to add an average of 70 new stores annually for the next five years. The company is worth about RM6.67 billion after its listing. The vast majority of its more than 10,000 items each cost RM2.60 in Peninsular Malaysia and RM2.80 in East Malaysia. Eco-Shop has also launched 22 Eco-Plus format stores featuring a wider range of products at various prices. Its net profit has risen from RM27.09 million in 2022, to RM105.07 million in 2023 and RM177.28 million last year. While Eco-Shop is the biggest dollar store player in Malaysia and commands almost 70 per cent market share, there are several other players such as Ninso and Eko Jimat. Ninso originated in Kluang, Johor in 2017, and now has 99 outlets across the country. Eko Jimat has 72 stores, while Japanese chain Daiso, whose items are mostly RM5.90 each, has 70 stores. NT Shop has 36 stores, while Setia has 34 stores. Predominantly located on individual shoplots, some of these stores have also set up in malls. According to a market research report by consulting firm Frost & Sullivan for Eco-Shop's IPO, the dollar store-based retail segment in Malaysia has experienced significant sales growth from around RM1 billion in 2016 to RM4 billion in 2024. While their popularity may not be surprising to some, others have found it remarkable. "I'm actually quite surprised at how big the dollar store trend has gotten,' said Mydin Hypermarket founder and managing director Ameer Ali Mydin, who has 70 branches in Malaysia. With the ringgit weakening over the years and one American dollar now equivalent to RM4.25, 'you kind of think, 'What can you really buy for RM2.60?', Ameer said. 'But they seem to have enough things to keep people coming back," he said, adding that he does not intend to enter the fray as he did not want to spread his business thinly. A walk through the Eco-Shop and Ninso branches in Selayang reveals no shortage of items ranging from the practical to the whimsical at the RM2.60 price point. Besides plastic containers, file covers, a pack of 80 baby wipes, 500ml hand wash, shampoo, flower pots and tools such as spanners and sets of allen-keys, there are also toys and capybara-themed hairbands. The shops also sell food items such as biscuits, chocolates and snacks. Frost & Sullivan's report indicated further growth potential, noting that as of last year, the sector in Malaysia had a penetration rate of 23 stores per million population. The rate is low compared to more mature markets such as Japan, which has 87 stores per million population, the United States with 119 stores per million population, and Canada with 127 stores per million population. The report estimated that the penetration rate of dollar stores within Malaysia is 1.5 per cent of the sales value of the store-based retail sector. Sales in Malaysia's dollar store industry are projected to reach RM7.8 billion by the end of 2029, it stated, up 95 per cent from 2024's RM4 billion. 'These stores have proven to be recession-proof, offering affordable options during economic downturns and high inflation rates,' Frost & Sullivan wrote. 'By providing a range of homogeneous goods at fixed prices, dollar stores attract new customers who would typically shop at higher-priced retailers, especially during times of economic uncertainty,' it said. The concept also exists in other Southeast Asian nations like Singapore, with stores such as Valu$, and Thailand where there are 20-baht shops. In Japan, meanwhile, 100-yen shops have become a fixture in the retail landscape. Eco-Shop's chief executive Jessica Ng told CNA that the fixed-price retail model has gained global traction, particularly during periods of economic uncertainty. 'In Malaysia, we have seen growing demand for value-retailing, driven by rising cost-of-living concerns and increasing consumer awareness of smart spending,' she said via email. 'Notably, value retail has become more mainstream, attracting not just lower-income shoppers but also middle-income households looking for everyday essentials at affordable prices,' she said. Eco-Shop's business model tends to be countercyclical – during inflationary periods or economic slowdowns, consumers become more price-sensitive, which tends to drive more traffic to fixed-price retailers, she added. HOW ARE DOLLAR STORES ABLE TO SELL SO CHEAP? What is the secret behind these dollar stores' ability to sell products relatively cheaply? Economist Yeah Kim Leng, while surprised at the variety of items on sale for less than the price of a coffee, attributed it to the bulk purchasing ability of dollar stores. Ng of Eco-Shop said its business model is built on high volume and scale – products are bought in bulk, so the company is able to sell them cheaply. The fixed-price model boils down to scale, efficiency and strategic sourcing, she said. 'Our sourcing strategy is very deliberate. We've built strong, long-term relationships with suppliers from Malaysia and different parts of the world,' she said. 'Over the years, we've also established direct factory relationships, which helps us get better pricing and avoid middleman costs.' Dollar stores are not immune to price pressures and other challenges, however. Just last month, Eco-Shop and Ninso hiked their prices from RM2.40 to RM2.60. According to analyst reports, such stores are also labour-intensive and dependent on both foreign labour and suppliers. Ng said key challenges range from managing rising costs from supply chain disruptions and foreign exchange fluctuations, to higher freight and logistics expenses. Its draw lies not only in affordability, but also variety, Ng added. Which is why each Eco-Shop outlet offers 5,000 to 11,000 items. 'Whether it's homeware, personal care, snacks, or stationery, we make it a point to keep our product assortment fresh and relevant so that every trip to the store feels like there's something new to discover,' she said. While Yeah noted there is competition from other brick-and-mortar stores as well as the global online marketplace – Chinese e-commerce giant Taobao launched a Malay-language interface that automates translation across the platform this week, for instance – dollar stores enable customers to 'have a feel' of the items on offer. 'That is why these stores can do well,' he said. And while customers appreciate the affordability and range of items at value stores, some are mindful of impulse purchases while others say they would visit other shops and pay more for certain items. Mary Agnes, 50, from Batu Caves, told CNA nearly half of her purchases from monthly visits to Eco-Shop are unintended – a behaviour Frost & Sullivan's report terms 'treasure hunting'. 'The perception of getting a good deal can drive impulse buys, even for things people might not need,' Mary acknowledged. Mechanic Hazri Mukeri, 45, who is from Selayang, said that while stores such as Ninso and Eco-Shop are useful for small items such as plastic containers, he would be pickier when it comes to tools needed for work. 'Of course, you can purchase some things such as cable ties (here) but when it comes to tools such as spanners, the items sold would not last as long as those pricier products found in proper hardware stores, for example,' he said.
CBC
26-05-2025
- Business
- CBC
Garage sale season is ramping up and budget-wise shoppers are ready for it
Garage sale signs are popping up all over the city, from solo driveways to full-blown community sale parades. With tariff threats and the rising costs of everything, budget-wise shoppers say they're appreciating the bargains.
Daily Mail
15-05-2025
- Business
- Daily Mail
Why European shoppers are calling Temu a 'revelation' for helping them cope with rising prices - while boosting local businesses too
For Gelena Ismaili, a 37-year-old single mother from Stockholm, stretching every krona is a daily reality. She'd long prioritised her daughters' needs and limited her own purchases to seasonal sales - until she found Temu. 'Temu was like a little revolution for me,' Ismaili said of the online marketplace known for its year-round low prices. 'Suddenly I could treat myself and my kids to nice things without feeling anxious when checking my bank account.' She's one of millions of Europeans who have turned to Temu for its huge selection of budget-friendly everyday items. With prices rising across much of the continent, Temu's pricing model offers practical relief for households feeling the squeeze. It's helping Brits too, with a recent Ipsos poll finding that Temu shoppers across six countries, including the UK alongside Germany and France - cut their spending by 24 per cent on average, with four in five rating the platform as good value. In the Nordics, a Kantar survey echoed these findings, with half of respondents citing pricing as Temu's biggest strength. The impact adds up. In fact, a study by the Centre for Economics and Business Research (Cebr) estimates UK households could save nearly £3,000 annually by using Temu - providing welcome relief for families feeling the pinch. 'Price remains a key purchasing driver, especially during tough economic times,' said Dr Georg Wittmann, managing director of ibi research. Since its launch in Europe, Temu has served more than 100million consumers across all 27 EU member states. By cutting out middlemen and excessive markups, the platform reduces costs and passes the savings directly to shoppers. Helping everyone get the items they need While affordability is a major draw for Temu customers, access and convenience is just as important. For many outside major cities, finding a wide variety of products at good prices remains a challenge. Fortunately, Temu is helping to bridge that gap. In Oslo, 48-year-old paramedic Nina Brekke struggled for years to find shoes in her unusually small size. On Temu, she found what she needed. 'I like that I always find what I'm looking for, at good prices,' she said. In Norway, 68 per cent of Temu users say it offers products unavailable in local stores. With more than a quarter of Europe's population living in rural areas, many struggle with limited retail options. Temu's model gives these people access to the products they need without having to travel a long way to get them. 'Temu is part of the shift toward online access, particularly important for people outside major cities,' said Peter Nordgaard, author of Supply Chain ABC 2025. 'It brings the world of products closer to everyone.' Opening doors to local sellers In 2024, Temu opened its platform to local sellers in more than a dozen countries, giving small businesses a low-cost route to reaching millions of customers. The platform reduces the usual barriers to launching online, helping independent firms to grow and contribute to local job creation and economic activity. Nova Tissue, a manufacturer of toilet paper and kitchen rolls based in Oldham, Greater Manchester, had supplied retailers and wholesalers for decades before it saw margins shrink as clients consolidated. Listing on Temu in December 2024 gave the business a second wind. Demand surged quickly, with daily sales soon exceeding £10,000. Several products became national bestsellers and stock had to be rapidly replenished. 'We no longer rely on a single buyer,' said Nova Tissue's owner, Khurram. 'Temu connects us directly with UK consumers, and that's far more valuable than wholesale.' To keep up, the company hired more staff in dispatch and customer service. What began as a sales experiment has created new jobs and made a tangible contribution to the economy of Greater Manchester. Temu expects local sellers to contribute up to 80 per cent of its European sales and is helping them expand globally by partnering with international couriers. 'In today's climate, platforms like Temu are launchpads for small business growth,' said Gregor Murray, VP at Digital Commerce Global Group. 'They're not just selling goods - they're fueling economic activity and giving smaller players a shot at scale.' Building a safe and trusted marketplace Designated a Very Large Online Platform (VLOP) under the Digital Services Act in 2024, Temu is now subject to the EU's most stringent oversight rules. Its compliance system includes vetting all sellers, monitoring listings through technology and human review, and removing non-compliant products through a responsive takedown process. Temu also partners with top testing agencies like TÜV Rheinland and Eurofins to ensure product safety. The platform uses automated tools and a multilingual team to detect and remove intellectual property rights violations and maintains an online portal for brands to report infringements directly. Its app is certified under the MASA cybersecurity framework by DEKRA, the respected German testing agency. Recognition and growth Temu's impact on the e-commerce industry has been widely recognised. It was named 'eCommerce of the Year' at Spain's eAwards 2025 and ranked among the top 10 platforms at the Ecommerce Italia Awards. In the US, USA TODAY included Temu in its 'America's Best Customer Service 2025' list. In Europe, the platform is winning over users. Ipsos found that 77 per cent believe Temu delivers strong value, over half would recommend it to others, and 80 per cent expect to maintain or increase their spending on the platform in 2025. It is also encouraging entrepreneurship. In the UK alone, 14 per cent of local buyers say Temu has helped them start or grow a business. Many of these new ventures have created jobs and stimulated the economy of their local area. 'I don't think the public fully grasps the scale of what Temu could become,' said Nova Tissue's Khurram. 'If this is where we are now, imagine three or four years down the line.'
