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Damp spending

by Gordon on Tuesday 18th March, 2014

When it comes to the bad weather, we’re all in it together. Much of the UK is still suffering from the recent spate of floods, and the high street isn’t that much better off. February UK retail sales fell for the first time in nearly a year because of the bad weather.

Data given by the British Retail Consortium showed that like-for-like sales fell 1% when compared to the same month last year. The fall follows a 3.9% like-for-like increase in January, marking the first drop since April 2013.

Though high street spending was down, online sales did better with non-food figures up 14.3% year-on-year. Online spending made up 17.5% of the total non-food sales, up against 15.4% in February 2013.

David McCorquodale, head of retail at KPMG, has stated:

‘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.’ (BBC News, 11 March 2014)

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