Multiple snow storms cripple high street retail sales in March
The UK high street was hit with the second worst like-for-like sales on record in March as the bad weather kept shoppers indoors.
Year-on-year sales dropped by 10.1 per cent for the month, according to figures released today by accountancy firm BDO.
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Two snowstorms, the so-called ‘Beast from the East’ and then the ‘Mini Beast’, meant that retailers struggled to lure shoppers onto the high street. Footfall was down by as much as 17.5 per cent in the first week of March, when the first storm hit.
Fashion and homeware retailers were some of the worst performers, with sales down by 12.7 per cent and 13.2 per cent respectively.
Sophie Michael, head of retail and wholesale at BDO said: “However you look at it, March was a brutal month for stores. The weather was severe, and shoppers’ reaction showed how paper-thin consumer confidence is currently.
“People couldn’t get to the shops, but they weren’t spending online to make up the shortfall either.
“Whilst many have cited this to be due to consumers not trusting deliveries to get through, it’s also a clear indicator of the wavering underlying spending power.”