According to BDO's High Street Sales Tracker, total retail sales increased by 1.8% in March, but this was insufficient to recover from a previous decline of 2.2% in 2024. In-store sales grew slightly by 0.3%, but this was overshadowed by inflation, leading to a decrease in actual sales volumes. Lifestyle and homewares sectors were particularly affected, with declines of 0.7% and 2.8%. Consumers are hesitant to spend due to rising costs and economic uncertainty, forcing retailers to focus on cost management and efficient operations.
"Investing in technology to help reduce operational expenditure and mitigate increases in their cost base has never been more important. Optimising their store estate and focusing on having the right product lines in place will be vital."
"It's no surprise that consumers might be reluctant to spend in discretionary categories when there is so much uncertainty around, including reported potential job cuts from employers struggling to bear the cost of National Insurance changes..."
Collection
[
|
...
]