April showers dampens retail sales – London Business News | Londonlovesbusiness.com

Date:

Share:


Wet weather dampened retail spending last month more than expected as the amount of items purchased dropped by 2.3% in April.

The Office for National Statistics (ONS) said that this comes as retail sale fell 0.2% in March, some economists were expecting a decline of 0.6% in the month.

Sales volumes fell in many sectors, clothing, sports, toy stores and game and furniture stores was hit the hardest due to the poor weather.

The ONS said that non-food shops saw their sales plummet 4.1% in April which was the largest fall since January 2021.

Oliver Vernon-Harcourt, head of retail at Deloitte, said: “April’s retail sales were more disappointing than expected, once again being dampened by wet weather, deterring shoppers from the high street and impacting the sale of seasonal items.

“Though consumer confidence continues to rise, many remain apprehensive and are not yet loosening their purse strings, especially on non-essential items and goods such as clothing and footwear.

“Consumers are focused on value, with the likes of own-label food remaining resilient.

“Overall, this is a clear sign that, despite inflation easing, retailers’ road to recovery will require them to continue to invest into product ranges that target consumers of all budgets.”



Source link

━ more like this

NATO chief warns US will face a ‘dire threat’ from Putin’s allies over unfavourable peace deal – London Business News | Londonlovesbusiness.com

NATO Secretary General Mark Rutte has told Donald Trump that the US will face a “die threat” from Vladimir Putin’s...

Market thoughts: Markets inching towards the ‘silly season’ – London Business News | Londonlovesbusiness.com

DIGEST – Stocks advanced, Treasuries sold-off, and the dollar rebounded as December got underway yesterday. Today, the JOLTS job openings...

Talks between leaders ‘does not strengthen Ukraine’ Zelensky warns – London Business News | Londonlovesbusiness.com

President Volodymyr Zelensky has said sanctions and diplomatic isolation is weakening Moscow and Vladimir Putin. But talks between leaders...

Dollar extended gains to 1% as ISM manufacturing beats and French government heads for collapse  – London Business News | Londonlovesbusiness.com

Crashing political sentiment in France and another activity data beat in the US have handed the euro a dire start...

Using WhatsApp on an older iPhone? Then take note

An update to WhatsApp will reportedly end support for iPhone operating system versions prior to iOS 15.1, which Apple released in 2021. It...
spot_img