Primark’s profits soar, discover what they are doing right.
As Primark’s profits surge and they become an essential shop for any high street, we surveyed our panel of UK consumers to see why Primark are doing so well.
From our initial NPS analysis (find out more about Net Promoter Score – NPS), it seems Primark have scored just below average. Hear from our panel of UK consumers what is making Primark successful, although they appear to be performing sub-par in the eyes of the consumer.
Primark are an extremely interesting brand, as profits in the first half of the year were up a whopping 26%, this would lead to the assumption that Primark are doing a lot right. On the contrary, Primark scored a not-so-great, but still okay, -7.36 when it came to their Net Promoter Score. So how are Primark so successful in a market that seems so indifferent to company?
Primark was described as a ‘throwaway’ brand, as their clothes are disposable, good for people who like to keep up to date with fashion but don’t have a lot of money. A number of the panel commented on Primark’s home ware offering, that they would regularly get their kitchen or bed-ware there. Others mentioned the kids-wear, as there is such a huge and affordable range that pleases the children as it fits with current styles.
Although it’s not all positive, as where Primark have previously succeeded, it seems that many of the users felt that was now changing. As the prices of the clothing increase, a number of the panel are now turning to alternatives like H&M and New Look as they are now more than ever similarly priced. Where Primark fall down is the quality, and a large number of the panel felt that if prices continue to rise, it is not worth the lack of quality.
Primark the brand, you think cheap, you think affordable, you think ‘I’ll be lucky if that top lasts more than two washes’, but you also think sweatshops, and you also think poor working conditions. A number of our panel have not, and will not any time soon, be forgetting the bad press surrounding how Primark’s clothing is made. Although a small proportion did recognise that it is easier to blame the clothing brands offering budget clothing, because the clothes are just so cheap; but other large clothing retailers are just as guilty, there is not a taboo around the Primark brand.