High street hit by bad weather as shoppers turn to the web
RETAILERS recorded a small rise in total sales in the year to February, up 0.7 per cent from the same month in 2013, according to the British Retail Consortium (BRC) and KPMG.
The data, released today, suggest that while total sales were up marginally, like-for-like transactions fell by one per cent in comparison to February 2013.
Once again, online sales contributed most to total growth, with non-food internet sales growing by 14.3 per cent year on year. The growth rate fell marginally from January’s level, but remained some way above the pace registered in February last year, and the 12-month average online growth rate.
On a three month average, like-for-like sales are still up by 1.2 per cent, driven by a 3.5 per cent rise in non-food sales. Sales of food dropped 1.7 per cent over the same period.
Like-for-like sales of food were particularly weak in comparison to previous months. The 1.7 per cent drop recorded was much faster than in previous quarters, and until September last year food sales were typically growing.
For non-food sales, home accessories were the best performing category.
“February saw a hiatus on the high street, with online sales soaring while in store sales stalled. There’s no doubt inclement weather exacerbated this trend, but it certainly underscores the importance of having a sophisticated online operation,” said David McCorquodale, KMPG’s head of retail.
BRC director general Helen Dickinson added: “Overall, these figures reflect the considerable challenges still faced by consumers and retailers in the UK. It remains to be seen how the industry will fare over 2014.”