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Primark are bringing down prices (Image: Wirestock via Getty Images)

A major UK retailer has claimed they are slashing prices across the board in order to wrestle back customers lost to online rivals.

Primark are looking to decrease the prices of hundreds of its best-selling items to win back bargain hunters who have been flocking to cut-price online rivals such as Shein and Temu, boasting a 29% decrease in hundreds of womenswear, menswear and kids' clothes.

In a blog announcing the shake-up, Primark chief executive Eoin Tonge admitted "value has never mattered more" as shoppers are bombarded with "different brands, new marketplaces, endless promotions" and claims about quality and style. He said: "The simplest question has become much harder to answer: what does value really look like, and where can you find it?"

Primark say they are bringing prices down

Tonge insisted Primark was "the original value disruptor" and vowed to "redisrupt expectations of value", adding: "Today we're announcing that we have lowered prices on hundreds of Primark favourites."

He also promised customers they "do not want to compromise" and "don't believe they should have to", saying the retailer wants shoppers to know "Primark prices will always be the best prices, every day."

Among the cuts, more than half of Primark's autumn and winter knitwear will cost less than £12, while more than 40% of its socks will be cheaper. A bestselling women's coat has been reduced to £22, and a third of new children's clothing lines will be cheaper than comparable products last year.

Experts believe the move is a hit back at online brands from the high street

Matt Houston, Primark's chief customer officer, said: "Value matters to customers today more than ever."

He added: "We want to continue to lead the way in shaping what affordable fashion looks like and give our customers the confidence that they can always trust Primark for the very best prices but without compromising on style or on quality."

Chinese bargain giants Temu and Shein have exploded in Britain, with Temu more than doubling its UK audience in just two years while Shein has added around 4.4 million visitors since 2023, and many experts are suggesting that Primark's price slash is in direct response to this new competition.

Sites like Temu and Shein have grown in popularity

As retail analyst Natalie Berg told the BBC: "When Shein is selling dresses for £3, you've got to respond, right?"