Shoppers have boosted June like-for-like sales at high-street retailers by one per cent compared to the same period a year ago, new research out today shows.
The increase is particularly significant given the World Cup, which traditionally draws shoppers, and their cash, away from the high-street.
Sophie Bevan, head of retail and wholesale at BDO, the group that conducted the research, said: “Retailers throughout the recession have learned to be much savvier businesses. They can react to trends much faster, which gives them the confidence to hold new lines at full price and reduce the volume of discounted stock.
“The reward for getting the product and service right is increasing sales and improving margins, both of which are contributing to the growing sense of confidence across the high street.”
Sales of homewares saw a particular bump, up 2.8 per cent year-on-year, with lifestyle goods up 1.8 per cent, helped along by strong sales of electrical goods. Fashion retailers saw a less impressive 0.5 per cent boost according to the research.
Discounting remained relatively widespread across the retailers, BDO said, adding that sales have become more targeted with items remaining at full-price for longer.
The effect of a possible rise in interest rates was not as harsh as had been expected, with consumers continuing to shop despite their concerns.