// Total retail sales increased a marginal 0.7% in October, according to the BDO High Street Sales Tracker
// This failed to offset the negative base of -2% recorded in October last year
// The last week of October saw sales plunge 6.45% amid Brexit delays & an election announcement
High street sales took a battering in the last week of October amid political upheaval as retailers face a “perfect storm” in the crucial Christmas trading period, new figures suggest.
According to the latest BDO High Street Sales Tracker, retailers failed to stem the sales plunge despite deep autumn discounting and early seasonal promotions.
Total like-for-like sales for the month increased a marginal 0.7 per cent and failed to offset a negative base of -2 per cent in October last year as consumers became “increasingly sensitive to the political chaos” of Brexit delays and the announcement of a general election, BDO said.
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- Discounting drives give October retail sales a boost
- Consumer confidence drops as “big black Brexit cloud” strikes
The final week of October saw sales plummet 6.45 per cent from a base of -0.3 per cent.
Sales of lifestyle products recorded a decrease of 1.9 per cent to mark the 21st consecutive month of no growth for the sector, considered the most indicative of discretionary spending.
Overall footfall fell every week in October compared with the same period in 2018, starting with a decline of 1.8 per cent and ending with its largest fall of 5.3 per cent.
“Consumers were delivered a double blow of yet another Brexit delay combined with news of a General Election during the crucial festive trading period,” BDO head of retail Sophie Michael said.
“While the first three weeks of October may have brought hope to the high street, the final week was awful and came very close to negating the positive gains in the first weeks of October.
“Consumer confidence will have been further deteriorated by news of the collapse of major high street employer and well-loved brand Mothercare – the latest victim of relentless high street transformation.”
Michael added: “Retailers stockpiling for a Brexit date that was ultimately delayed has only further alienated the relationship between retailers and government.
“As retailers continue to trade on paper-thin margins, and their pleas for business rates reform remain ignored, they enter the vital Christmas trading period facing a perfect storm of unfavourable conditions.”
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2 Comments. Leave new
Dont blame the govt.blame all remain mps for blocking brexit for over 3 yrs!
I will blame the Government, thank you. There was a majority of 30 for Boris Johnson’s new deal before he took his ball away to call an election on, err, his inability to get a bill through.
Blame remain MPs all you like, but cut out the Trumpian re-writes of history. Why not blame Brexiters for not agreeing 3 times to T May’s deal, instead of playing ‘my fantasy brexit is tougher than yours’ ?
Still, no doubt we’ll al be saved when we’re trading with, well, err, …hmn.