Price rises: full list of UK shops and high street retailers warning of 2025 hikes, including Amazon and Boots

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Retailers are gearing up for price hikes, and some say job losses could follow 😬
  • Major retailers, including Next, Tesco, and M&S, have warned of price hikes starting in April
  • Changes announced in Chancellor Rachel Reeves' Autumn Budget include a higher minimum wage and increased employer national insurance contributions
  • Over 80 retailers signed an open letter warning the measures would lead to job losses and rising costs
  • Retailers like Greggs and New Look have already outlined how these changes are impacting pricing

In April, shoppers across the UK may feel a pinch at the tills as several high street retailers prepare to raise prices in response to new government measures.

First outlined in Chancellor Rachel Reeves' inaugural Autumn Budget last year, these changes include an increase in the national minimum wage and a higher employer national insurance rate.

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While aimed at boosting wages for workers, the measures have prompted warnings from businesses about their impact on operating costs and, ultimately, consumer prices.

Major retailers like Next have already confirmed that price increases are on the horizon, describing a planned 1% rise as "unwelcome" but unavoidable.

But Next is not alone in sounding the alarm, and last year, over 80 retailers signed an open letter to the Chancellor cautioning that the measures would make price hikes “a certainty” for many businesses.

But which high street shops and brands have publicly commented on impending price increases, and which retailers are on the list of those who voiced concerns about the Budget changes?

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(Photos: Getty Images)(Photos: Getty Images)
(Photos: Getty Images) | Getty Images

Which companies have said they may have to raise prices?

Currys: The electrical retailer has warned that it will need to reduce hiring due to the financial impact of recent Budget measures. The company also warned that price hikes would be unavoidable due to rising costs, and said the measures would likely “depress investment and hiring”.

DFS: The UK furniture retailer has warned of rising costs due to the recent Budget and predicted sluggish demand for its sofas as 2025 approaches. DFS anticipates higher costs this year, partly driven by tax increases.

Greggs: The UK’s biggest bakery chain recently said it needed to pass on some of the higher costs it is facing to customers. CEO Roisin Currie said that around two-thirds of the chain's employees received a salary boost of approximately 6% at the start of 2025, and while positive for employees, she said it necessitates a price on some products. This includes the chain’s iconic sausage rolls, which have risen in price by 5p to £1.30, although this will vary in locations across the country.

M&S: CEO Stuart Machin has insisted he will pass on “as little as possible” in costs to customers, and is looking to hold prices “as much as we can”, but mitigating rising employment taxes will not be easy. M&S has said it will focus on identifying supply chain savings and improving operational efficiency to address rising costs.

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New Look: It was recently reported that New Look is accelerating plans for mass store closures, spurred on by the upcoming increase in National Insurance. According to The Times, around a quarter of its 364 stores are at risk when their leases expire, equating to about 91 stores. For now, stores remain open, and no final decisions regarding closures have been made.

Next: To offset the financial burden of the new Budget measures, Next has said that it will implement an "unwelcome" 1% price hike. The change means that the price of this Halston Bell Sleeve Maxi Dress will increase by almost 10 pounds (£8.09), while this much more affordable Lipsy Burgundy Red Long Sleeve Cross Front Midi Dress will increase by 49p.

Nightclubs: The UK nightclub industry has warned that planned tax hikes in April could push more venues "to the brink of closure.” Michael Kill, the NTIA's chief executive, said “the uncertainty heading into 2025 is more concerning than anything we saw during the pandemic.”

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Tesco: Chief executive Ken Murphy has said Tesco will “do our very best” to keep prices low. The firm is planning to make cost savings across the business to offset the extra wage bill, for example through better buying and freight, and added it was not planning to make changes to its workforce or hiring plans

We’ll update this article as and when more retailers and businesses make statements regarding potential April price hikes.

Who’s on the list of retailers who wrote to Rachel Reeves?

Last year, some of Britain’s largest retailers warned that jobs will be lost and prices will rise as a result of the measures announced in October’s Budget.

In an open letter to Chancellor Rachel Reeves, more than 70 businesses, including Tesco, Asda, and Sainsbury’s, expressed concern over the changes, saying that price hikes were a “certainty.”

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The retailers argued that the combination of measures could cost the industry over £7 billion annually. The letter said: “We appreciate the Government’s commitment to improving public finances and investing in public services, and we recognise the vital role businesses play in supporting these efforts.

“However, the scale and speed of these new costs create a cumulative burden that will inevitably lead to job losses and higher prices.”

The letter was signed by the leaders of several major retailers, including Aldi, Amazon UK, Boots, Lidl, JD Sports, Primark, Morrisons, and Greggs, who joined calls for a reconsideration of the measures.

Here’s the full of the open letter’s signatories:

  • Giles Hurley (Aldi Stores UK)
  • Peter Wood (All Saints)
  • John Boumphrey (Amazon)
  • Lord Rose (Asda)
  • Sue Kemp (Associated Independent Stores)
  • Graham Bell (B&Q)
  • James Barker (Barker and Stonehouse)
  • Nick Collard (Bensons for Beds)
  • Meryl Halls (Booksellers Association)
  • Anthony Hemmerdinger (Boots UK & ROI)
  • Charmaine Griffiths (British Heart Foundation)
  • Helen Dickinson (British Retail Consortium)
  • Gerry Murphy (Burberry)
  • Darcy Willson-Rymer (Card Factory)
  • Colin McLean (CJ Lang & Son)
  • Mireille Baumgart (Concept Living)
  • Alex Baldock (Currys)
  • Eric Mazillier (Decathlon)
  • David Robinson (Dobbies Garden Centres)
  • Kenny Wilson (Dr Martens)
  • Nigel Darwin (Dune Group)
  • Nigel Murray (EH Booth & Co)
  • Sian Westerman (Fenwick)
  • Ed Duggan (Fishpools)
  • Nick Scott (Footasylum)
  • Noel Coyle (Fraser Hart)
  • Roisin Currie (Greggs)
  • Henrik Nordvall (H&M)
  • Doug Putman (HMV)
  • Anthony Houghton (Holland & Barrett)
  • Fran Barnes (Horticultural Trades Association)
  • Regis Schultz (JD Sports Group)
  • Nish Kankiwala (John Lewis Partnership)
  • Thierry Garnier (Kingfisher)
  • Mac Plumpton (Leon Restaurants)
  • Ryan McDonnell (Lidl GB)
  • Darren Topp (LK Bennett)
  • John Colley (Majestic Wine Warehouse)
  • Nathan Williams (Mamas & Papas)
  • Mike Tomkins (MandM Direct)
  • Stuart Machin (Marks and Spencer)
  • Nick Stowe (Monsoon Accessorize)
  • Rami Baitiéh (Morrisons)
  • Mark Neale (Mountain Warehouse)
  • Phil Ponsonby (Midcounties Co-operative)
  • Noel Keeley (Musgrave Group)
  • Anthony Short (Music Industries Association)
  • Steve Johnson (N Brown)
  • Lord Wolfson (Next)
  • Helen Connolly (New Look)
  • Hannah Gibson (Ocado)
  • Oliver Tress (Oliver Bonas)
  • Paul Stirling (One O One Convenience Stores)
  • Lyssa McGowan (Pets at Home Group)
  • Neil Brocklehurst (Post Office Limited)
  • Austin Cooke (Poundland)
  • Kari Rodgers (Primark)
  • Nick Vance (Radley+Co)
  • Christos Angelides (Reiss)
  • Julie Abraham (Richer Sounds)
  • Christina Dowling (Rigby & Peller)
  • Warren Cohen (River Island)
  • Simon Roberts (Sainsbury’s)
  • Pete Cheema (Scottish Grocers’ Federation)
  • Karen Scott (Scottish Midland Co-operative Society)
  • John Mewett (Screwfix)
  • Colin Temple (Schuh)
  • Paul Hayes (Seasalt)
  • Michael Fletcher (Spar UK)
  • Peter Bainbridge (Specsavers)
  • Julian Dunkerton (Superdry)
  • Craig Ash (Swarovski UK)
  • Matthew Barnes (Tesco)
  • Gill Smith (The Perfume Shop)
  • Patrick Birkbeck (The House of Bruar)
  • Ian Williams (The Original Factory Shop)
  • Michael Rolland (The Paint Shed)
  • Mark Smith (The Southern Co-operative)
  • Gavin Peck (The Works)
  • Robert Parker (Topps Tiles)
  • Nathan Smith (Whittard of Chelsea)
  • David Wood (Wickes Group)

As these price hikes loom, we'd love to hear your thoughts. How do you think the upcoming changes will impact your shopping habits? Will you be affected by rising costs at your favourite stores? Join the conversation in the comments section.

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