Retail sales

UK Retail Sales Up 4.7% in March

UK Retail Sales Up 4.7% in March

Retail store sales for March grew by 3.2% compared to the same month last year, which declined by 1.7%, according to research by the high street monitoring group British Retail Consortium (BRC) and KPMG. The report, titled ‘BRC-KPMG Retail Sales Monitor’, revealed that total retail sales also rose by 4.7% in March, the highest incline since October 2014 with e-commerce sales also up; growing by 12.3%. The surge in retail sales is said to be the result of consumer buying over the Easter break, but the report indicates that uncertainty over the upcoming election ‘could cast a shadow over the long term recovery of the sector.’ Despite signs that bricks and mortar stores played a greater role in the increase of retail sales (e-tailers contributing 1.4%), the report still asserted the importanc... »

Retail Sales Hit Record Low in March

Retail sales fell to a record year–on–year low in March, as high inflation and low wage growth caused a drop in disposable income. Total retail sales for the month were down 1.9 per cent on March 2010 — the worst fall since records began in 1996. British Retail Consortium director general, Stephen Robertson, said that this year’s late Easter this year had only partially contributed to the drop in March sales. “Uncomfortably high inflation and low wage growth have produced the first year–on–year fall in disposable incomes for 30 years.” “Mounting fuel and utility costs, falling house prices, higher VAT and the prospect of more tax rises and job losses left people unwilling to spend unless they really had to.” KPMG‘s head of retail, Helen Dickinson, said consume... »

Christmas Shoppers

Retail sales fall for second consecutive month

UK retail sales have fallen for two consecutive months for the first time in 13 years, leaving retailers anxious for better Christmas sales, according to the British Retail Consortium (BRC) Their research found that total sales were down 0.4% in November from a year earlier, following a 0.1%decline in October. It was the first fall in overall sales for two months in a row since the BRC survey was first conducted in 1995. BRC director general Stephen Robertson said: “Retailers will be hoping that customers have been putting off Christmas shopping — not cancelling it. With money tight at the moment shoppers can take advantage of the extraordinary level of deals, offers and promotions. The recent VAT and interest rate cuts may also provide some stimulation.” However, BRC spo... »

Retail Sales

Retail sales growth hits new low

Retail sales growth in September slowed to its lowest level since April 2006, according to new figures from the Office for National Statistics (ONS). The research revealed sales growth in the third quarter of 2008 was only 2.3% higher than the same period in 2007 — the lowest percentage increase since April 2006. The survey also found that sales growth was only 0.1% higher in the third quarter of this year, than the second quarter. According to the ONS, the slowdown been driven by a drop in spending on household goods, clothing and footwear. However, they pointed out that small retailers are doing better than large retailers at present. “Generally speaking, small businesses have seen stronger annual growth than large businesses in September 2008,” said an ONS spokesman, b... »