Retail sales in the UK increased by 3.5 per cent in March, with the British Retail Consortium (BRC) attributing the hike to an “unusually early” Easter.
Good Friday fell on 29th March this year after falling on 7th April in 2023.
According to the latest data from the BRC, total retail sales in March were above the three-month average growth of 2.1 per cent and a 12-month average growth of 2.9 per cent.
The higher sales are a welcome boost for the retail market after wet weather and weak consumer confidence saw February’s sales growth down by over four per cent compared to the same period of last year.
Food sales increased by 6.8 per cent year-on-year over the three months to March 2024, slightly below the 12-month average growth of 7.7 per cent.
“Easter also boosted sales of non-food products such as cookware and tableware, as people readied themselves to host family and friends,” said Helen Dickinson OBE, chief executive of the BRC. “Home textiles such as throws and pillows were also popular as consumers sought to spruce up their homes ahead of Spring. Elsewhere, wet weather dampened sales of garden furniture, BBQs, DIY products, and clothing and footwear.
UK head of consumer markets, leisure and retail at KPMG Linda Ellet said that with April likely to see larger High Street brands facing increases in their cost base due to the rise in minimum wage rates and business rate hikes, they will be hoping the increase in sales is not just an “Easter blip”.
“Economic indicators are heading in the right direction with inflationary pressures easing and interest rates having potentially peaked, however consumer confidence remains fragile, and households continue to keep a close eye on where their tight budgets are being spent,” she continued.
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