Wet weather blamed as retail sales slump in March - Indoors Beauty

Wet weather blamed as retail sales slump in March

Wet weather blamed as retail sales slump in March

Retailers noticed sales fall in March as poor weather impacted Britons heading to the outlets. The Office for National Statistics (ONS) stated that retail sales volumes declined by 0.9% final month as garments outlets, department shops and backyard centres all reported declines.

The decline in total sales was heavier than anticipated, with economists predicting a 0.5% decline for the month. It comes after retailers reported a 1.1% improve in sales volumes in February, with the ONS marginally downgrading its unique 1.2% development determine.

Darren Morgan, ONS Director of Economic Statistics, stated: “Retail fell sharply in March as poor weather impacted on sales throughout nearly all sectors. However, the broader pattern is much less subdued as a powerful efficiency from retailers in January and February means the three-month image exhibits constructive development for the primary time since August 2021.”

Non-food retailers reported a 1.3% fall in March, swinging sharply from a 2.4% improve in February as retailers stated “poor weather situations all through most of March affected sales”.

The ONS revealed department shops noticed volumes drop by 3.2% for the month, whereas clothes outlets reported a 1.7% fall. Meanwhile, sales at meals outlets dropped by 0.7%, which the ONS stated “might have been affected by shortages” of some meals merchandise.

Supermarkets launched limits on the variety of sure objects, such as tomatoes, peppers and salad, that consumers might purchase throughout the month after provide was impacted by poor weather in northern Africa and Spain.

The figures confirmed that the quantity of meals purchased by consumers is 3% decrease than earlier than the COVID-19 pandemic hit in February 2020.

However, the amount of cash being spent by consumers is considerably larger after hovering meals inflation. Earlier this week, official figures confirmed meals inflation hit a 45-year-high of 19.1% final month.

Lisa Hooker, Industry Leader for Consumer Markets at PwC, stated: “The slowdown in March appears to be like prefer it was a results of particular components, and never indicative of a long term pattern.

“So contemporary meals shortages earlier in the month restricted grocery sales volumes, whereas the wettest March in England for over 40 years put a dampener on excessive avenue sales, with the likes of recent season trend and backyard centre sales struggling as a outcome.

“However, whereas March’s rain might have washed out the inexperienced shoots from February, the general momentum of the retail sector stays constructive, and higher than many anticipated at first of 2023.”

It got here after separate knowledge from market analysis agency GfK confirmed that British customers have been essentially the most upbeat in greater than a yr this month.

The shopper confidence index improved by six factors to a studying of -30, representing the very best studying since February final yr, earlier than the Russian invasion of Ukraine which accelerated inflation.

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