New retail figures fail to impress industry experts
11th April 2017
A leading retail organisation has described the latest sales figures as "underwhelming" after they declined for three months in a row for the first time in six years.
According to the British Retail Consortium (BRC), UK retail sales in March decreased by one per cent on a like-for-like basis from March 2016, when they decreased by 0.7 per cent from the preceding year.
On a total basis, sales fell by 0.2 per cent in March, against flat growth in March 2016, though the figures may be distorted because Easter is later this year.
BRC chief executive Helen Dickinson said: "First impressions of March's sales figures are underwhelming, with the first decline since August last year.
"That said, the distortion which results from the timing of Easter always makes spring a tricky period to assess and the later timing of the holiday this year certainly detracted from last month's performance.
"Mother's Day gift purchases provided some compensation, boosting sales of beauty and stationary items in particular.
"Looking at the bigger picture though, the slowdown in non-food growth persists and it now stands at its lowest three-month average for nearly six years.
"Meanwhile, food sales continue to outperform non-food sales as shoppers focus their spending on essential items.
"This marginal growth in food was bolstered by slightly higher shop prices following increases in global food commodity costs and a weaker pound.
"The pressure on prices continues to build, albeit slowly, and will inevitably put a tighter squeeze on disposable income and so to ensure consumers continue to enjoy great quality, choice and value on goods, securing tariff free-trade must be the priority as the Brexit negotiations begin in earnest."
Over the three months to March, food sales fell by 0.2 per cent on a like-for-like basis and increased by 1.2 per cent on a total basis.
Over the same period, non-food retail sales in the UK declined by 1.1 per cent on a like-for-like basis and 0.8 per cent on a total basis.
Yesterday, a study suggested retailers could look forward to a much-needed boost this Easter with footfall predicted to rise by 5.4 per cent, though the long-term picture appeared more gloomy.
What do you think? Email mark@moosemarketingandpr.co.uk
Picture credit: pixabay
Related Articles
Copyright 2024 Moose Partnership Ltd. All rights reserved. Reproduction of any content is strictly forbidden without prior permission.