Non-Food Instore Sales Soar, Online Non-Food Sales Decline
- UK retail sales increased by 5.1% in March
- Non-food instore sales up 5.2% on a total basis and 4.6% on a like-for-like basis
- Online non-food sales decreased by 2.1% in March
- Mother’s Day boosted high street sales
- Consumer confidence rising with upcoming events
- Cost pressures remain a concern for retailers
UK retail sales experienced a significant increase of 5.1% in March, according to data from the British Retail Consortium and KPMG. This growth surpassed the three-month average of 4.8% and the 12-month average of 2.6%. Non-food instore sales saw a notable rise of 5.2% on a total basis and 4.6% on a like-for-like basis, while online non-food sales declined by 2.1%, compared to a decrease of 29.0% in March last year. The wettest March in over forty years impacted fashion, gardening, and DIY product sales, but Mother’s Day contributed to an increase in high street sales for jewelry, fragrances, and flowers. As consumer confidence rises with upcoming events like the King’s Coronation, retailers remain cautious about cost pressures that may lead to continued inflation for UK consumers facing rising household bills. Online retailers benefited from home item sales but saw a decline in other categories, particularly clothing.
Factuality Level: 9
Factuality Justification: The article provides accurate and objective information about UK retail sales growth, citing data sources and including relevant quotes from experts in the field. It presents facts without sensationalism or personal opinions.
Noise Level: 3
Noise Justification: The article provides relevant and accurate information about UK retail sales growth, including specifics on non-food sales and online vs instore trends. It also includes expert opinions from the British Retail Consortium and KPMG. However, it could benefit from more in-depth analysis of the factors contributing to the growth and potential future implications for consumers and businesses.
Financial Relevance: Yes
Financial Markets Impacted: UK retail sector and consumer spending
Financial Rating Justification: The article discusses the increase in UK retail sales and its impact on consumer spending, which can affect companies’ financial performance and overall economic activity.
Presence Of Extreme Event: No
Nature Of Extreme Event: Other
Impact Rating Of The Extreme Event: No
Extreme Rating Justification: There is no extreme event mentioned in the text.
www.retailsector.co.uk