Fashion and homeware chain lowers costs on over 700 items as inflation and input costs fall.

Matalan, the UK-based fashion and homeware retailer, has announced a significant price reduction on more than 700 products as part of a £35 million investment aimed at making everyday essentials more affordable. The move comes as the retailer benefits from lower input costs and a reduction in inflationary pressures.

Prices across key product categories, including clothing and home furnishings, will drop by an average of 15%. Some items will see discounts of up to 25%, with the changes implemented from Monday, both online and in physical stores.

Notable price cuts include women’s hoodies reduced from £15 to £12.50, boys’ hoodies dropping from £13 to £10, and men’s straight-cut jeans now priced at £10, down from £11. Matalan has also cut the price of its popular bedding sets by £3 across all sizes, including single, double, and king.

The price reductions are made possible by Matalan’s efforts to streamline operations and reduce costs in various areas of its business. This includes savings on supplier prices and more efficient management, which have allowed the company to pass the savings on to its customers. Additionally, a new senior management team, appointed last year, has overseen changes to the company’s buying and sourcing strategies, further driving down costs.

Jo Whitfield, Matalan’s Chief Executive, stated: “The start of the year is always a tough time financially, and given how difficult 2023 was for many families, it’s going to be harder than ever. For 2024, we want to start the year off differently.” Whitfield, who took the helm at Matalan last year after leading Co-op’s food business, emphasised that the retailer’s focus is on offering value to customers during a challenging financial period.

The company’s strategy aims to make Matalan’s products more accessible to families, especially when inflation continues to affect household budgets.