According to Market surveys the food retail prices has been largely maintained in the same range over the past few years. The retail chains like Tesco, Ada, J Sainsbury and Morrison have maintained the food price. There are lots of customer incentive programs to bring in more potential customers and keep the existing customer base happy (Cadman, 2014). Aldi and Lidl all have giving more and more discounts to attract customers. The food market has a lot of competitors and the pricing is done aggressively to meet with the growing competition. Due to the flooding of the markets the people now feel they can purchase food items at real price thanks to these competitors. The food retail industry is trying to bring in more customers. The growing loyalty and discount programs have enabled the consumer to buy food at really low prices. The food inflation prices are computed yearly. From the year 2006 it has been found that the inflation has remained at less than one percent. There is an increase in manufacturing of food production and the prices have remained low because of the newer technologies employed in the food industry. There has been a paradigm shift owing to which the market is flooded with cheaper food products (Cadman, 2014).
Seeley (2012) argument on regulation to curb competitiveness in order to maintain a fair price has indeed been investigated in real time. The larger food chains like Tesco, Morrison’s has aided the end consumer in buying a lot of food products cheap. The people prefer to buy food products owing to the growing incentive programs and the cheap pricing. The larger retail chains have established many successful chains all around the country. The consumers have started to depend on these retail chains for their domestic needs.