Retailers enjoy spring boost after first full month without Covid restrictions
Good weather and an eagerness to refresh wardrobes for spring has fuelled boosted retail footfall and sales, data revealed today.
The first full month without Covid restrictions in England and Northern Ireland saw consumers “able to shop with a greater sense of normality, spurred on by some spring sunshine,” the British Retail Consortium (BRC)’s chief Helen Dickinson added.
According to BDO’s High Street Sales Tracker, retailers marked their thirteenth consecutive month of like-for-like sales growth in March.
Growth was driven by fashion, with total like-for-like sales increasing by +87.0 per cent for the month, from a base of +57.5 per cent for the same time last year.
Sophie Michael, BDO’s head of retail and wholesale, said: “Consumer spending remains high despite impending increases to the cost-of-living this month. “
However, shoppers are engaging in “record levels of household borrowing,” Michael added.
“There may be good reason to expect some pull-back in discretionary spending over coming months, though the impact will inevitably vary across different areas of retail,” she warned.
According to BRC-Sensormatic IQ data, total UK footfall was down 15.4 per cent on pre-pandemic levels in March. This was a 1.2 percentage point improvement from February.
“The impact on retail footfall and retail sales across both stores and online is yet to be seen, but as belts continue to tighten and prices continue to rise, it will be a difficult road ahead for consumers,” Dickinson warned.
High street footfall was down 17.8 per cent in March. This was 3.1 percentage points better than last month’s rate and an improvement on the three-month average.