Mon. Dec 23rd, 2024
alert-–-retail-revival-stalls-as-hard-pressed-brits-cut-back-on-car-travel-and-miserable-weather-dampens-footfall-on-high-streetsAlert – Retail revival stalls as hard-pressed Brits cut back on car travel and miserable weather dampens footfall on high streets

The revival in retail sales stalled last month as hard-pressed Brits cut back on fuel and miserable weather dampened footfall in high streets.

Volumes were flat in in February after a spike of 3.6 per cent the previous month that had clawed back ground from a lacklustre Christmas.

Sales are down 0.4 per cent annually and are still 1.3 per cent below their pre-pandemic level. 

Clothing and department stores saw some increase in activity due to new collections, but that was offset by falls in food stores and fuel retailers. 

Online sales grew as wet weather turned people off heading to the shops.

The revival in retail sales stalled last month as hard-pressed Brits cut back on fuel and miserable weather dampened footfall in high streets

The revival in retail sales stalled last month as hard-pressed Brits cut back on fuel and miserable weather dampened footfall in high streets

Sales values – the amount spent – fell marginally by 0.1 per cent, potentially reflecting easing inflation. 

ONS Senior Statistician Heather Bovill said: ‘Retail sales were flat in February. 

‘There was growth in clothing, which rebounded after recent falls as people invested in the new season’s collections, as well as department stores. 

‘However, these were offset by falls in fuel sales, possibly affected by rising prices, and a reduction in food sales.

‘Many shops told us that the wet weather hit in store sales, with online instead seeing a boost.’

Samantha Phillips, Partner at McKinsey & Company, said: ‘Retail sales continue to yo-yo. 

‘A wet February dampened footfall and there are signs that consumers continue to err on the side of caution – either trading down or postponing non-essential purchases altogether to cope with pressures on household budgets.

‘Retailers will now be hoping that Easter and Ramadan tempt shoppers to the tills in the final few weeks of Q1 trading.’

Clothing and department stores saw some increase in activity due to new collections, but that was offset by falls in food stores and fuel retailers

Clothing and department stores saw some increase in activity due to new collections, but that was offset by falls in food stores and fuel retailers

Kris Hamer, Director of Insight at the British Retail Consortium, said: ‘February sales were hit by the wettest February on record, which dampened demand and depressed footfall. 

‘This was felt most in the more high-ticket categories such as furniture and electricals. 

‘Meanwhile, cosmetics and toiletries continued to sell well as popular brands go from strength to strength. 

‘Retailers are hopeful that with warmer weather and potential interest rate cuts around the corner, consumer confidence will soon spring back.’

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