Easter Trading Fails to Meet Expectations

  • UK retail sales increased by 1.4% in March compared to last year
  • Overall sales rose 2.3% in March according to BRC
  • This is above the three-month and 12-month averages of 1.8% and 1.9% respectively
  • Non-food retail sales decreased 1.8% on a like-for-like basis and 1.0% on a total basis over the three months to March
  • Food purchases saw a spike during Easter due to the ‘Beast from the East’
  • Non-food sales were negatively impacted by the weather and consumer spending trends

According to KPMG, UK retail sales did not meet expectations during Easter, with an overall increase of 1.4% compared to last year and a 2.3% rise in March from the previous year. The British Retail Consortium’s figures reveal that sales grew by 0.2% in March 2017. Although this is above the three-month and 12-month averages of 1.8% and 1.9%, the Easter boost did not match previous years’ performance. Paul Martin, head of retail at KPMG, stated that non-food sales were negatively affected by consumer disinterest in typical springtime purchases and ongoing spending constraints on non-essentials. Helen Dickinson OBE, BRC chief executive, noted that food purchases increased during the holiday week due to the ‘Beast from the East’, while non-food sales suffered.

Factuality Level: 8
Factuality Justification: The article provides accurate and objective information about UK retail sales, citing sources such as KPMG and the British Retail Consortium for its data. It also includes quotes from experts in the field to provide context and analysis. However, it could be improved by providing more specific numbers and figures to support the claims made.
Noise Level: 4
Noise Justification: The article provides relevant information about UK retail sales and their performance during Easter, with some analysis from experts. However, it could benefit from more in-depth exploration of the factors affecting sales and potential long-term trends or consequences for the industry.
Financial Relevance: Yes
Financial Markets Impacted: UK retail sector
Financial Rating Justification: The article discusses UK retail sales figures and their impact on the overall growth, which can affect companies in the sector and potentially impact financial markets.
Presence Of Extreme Event: No
Nature Of Extreme Event: No
Impact Rating Of The Extreme Event: Minor
Extreme Rating Justification: There is no mention of an extreme event in the text.

Reported publicly: www.retailsector.co.uk