UK POS, the market leader in the point of sale industry, has announced it will be keeping prices low in time for Valentine’s Day, despite this month’s VAT increase and soaring acrylic costs.
On January 4, the government increased VAT by 2.5 per cent to 20 per cent, while acrylic costs have also risen for the eleventh consecutive month. The price of acrylic rose by 40 per cent rise in the first six months of 2010 alone. UK POS uses 300 tonnes of the material every year to make its range of products such as Menu Holders and leaflet holders
As usual, demand is expected to peak in the run up to Valentine’s day as retailers look to increase brand and product awareness through point of sale advertising. And in an effort to support its customers, UK POS has looked at alternatives to raising prices, such as rationalising product lines and streamlining internal processes to avoid waste. Bulk buying and forward planning have also helped lower costs and stopped the company from having to pass on significant price increases to customers. UK POS has now pledged to continue in this vein throughout 2011.
Jason Leslie, managing director of UK POS, said Valentine’s Day, on February 14, is the next major date for the retail industry following the January sales, and the company will be ensuring customers have access to the highest quality point of sale items like Leaflet dispenser and Poster holder at competitive prices.
He said: “Acrylic prices have been at an all time low for the last five to six years, so the price increases during 2010 certainly came as a shock.
“UK POS is a family run business and has very traditional values at its core. There was never any doubt that we would do all we could to avoid passing any kind of inflation on to our customers. All departments of the business have pulled together to manage margins and this has enabled us to keep prices at a competitive level.” UKPOS will continue to make savings in order to offset rising costs throughout 2011 in order to keep prices low.