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.
"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."
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