// Retail sales rose by 5.1% in March, compared to 3.1% in March 2022, above the three-month average of 4.8%
// Like-for-like sales rose 4.9% in March, versus a decline of 0.4% in March 2022
UK retail sales climbed slightly less than the previous month in March despite lower volumes year on year, with Mother’s Day offering a minor lift as inflation continues to bite.
According to the latest study released on Tuesday by KPMG and the British Retail Consortium, total retail sales rose by 5.1% in March, compared to 3.1% in March 2022, above the three-month average of 4.8%.
Like-for-like sales rose 4.9% in March, versus a decline of 0.4% in March 2022. This was ahead of the three-month average growth of 4.6% and stable from February’s 4.9% growth.
Total food sales grew 8.5%, while nonfood sales increased 1.8%.
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BRC chief executive Helen Dickinson said: “While the wettest March in over forty years dampened sales growth for fashion, gardening and DIY products, Mother’s Day brightened up sales for the month. Stores were given an extra boost, as last-minute shoppers dashed to their local high streets and shopping centres to purchase jewellery, fragrances and flowers.”
“With consumer confidence edging up and big events on the horizon such as the King’s coronation, retailers have reasons for a spring in their step. However, extensive cost pressures on business remain and the government must ensure it minimises incoming regulatory burdens. Unless these future costs are brought to a heel, we will likely see high inflation continue for UK consumers who already face rising household bills from this month.”
KPMG UK head of retail Paul Martin added: “Many retailers will have been disappointed with overall sales growth of just 5% in March, against a backdrop of rising inflation running at more than 10%.
“High street retailers saw some limited growth across most categories in March but as consumers cut back on eating out, spending on home comforts, accessories and furniture saw the biggest growth with people looking to entertain at home instead. Online retailers also benefited from the boost in sales of home items but saw continued decline in sales across most other categories, particularly clothing.
“As the difficult economic conditions continue, retailers will be hoping that April prompts consumers to look for some comfort in Easter treats and the sun starts to shine, forcing replenishment of summer wardrobes.”
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