High street sales continue to struggle in disappointing April - London Business News | Londonlovesbusiness.com
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High street sales continue to struggle in disappointing April - London Business News | Londonlovesbusiness.com
""Not only does this mean that in-store sales have barely recovered from last year's poor performance, but it also means that actual sales volumes shrank.""
""It's clear that there is a cloud of uncertainty around economic issues such as the introduction of trade tariffs and cost increases, which has had a material knock-on effect on consumer confidence.""
In April, total retail sales in discretionary spend categories rose by 3.7%, bolstered by online sales, while in-store sales increased only 2.3%. Despite the growth, actual sales volumes have decreased due to inflation surpassing sales growth. The lifestyle and homewares sectors saw notable declines, and although fashion sales grew by 5.2%, this came off a low base. BDO's Sophie Michael attributed the mixed results to economic uncertainties affecting consumer confidence, leading many to limit spending on discretionary items in favor of experiences.
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