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UK total retail spend index declined in March: Globaldata

Apr '19
Pic: Globaldata
Pic: Globaldata
The total retail spend index declined in March 2019 in UK, falling 3.6ppts versus February, according to GlobalData, a data and analytics company. Increased spend across clothing was driven primarily by replacement purchases. The warm weather in February diluted demand in March, despite retailers’ best efforts to persuade shoppers with mid-season discounts.

Retail spending continues to be affected in UK by poor consumer confidence, with continued Brexit uncertainty being the main culprit, says GlobalData’s report ‘Retail Trend Tracker: UK Consumer Spend – March’.

“Physical stores held up better than the online channel in March, bolstered by consumers purchasing items for Mother’s Day in stores due to shoppers making last minute purchases and the nature of the main products bought, especially flowers and chocolates,” said Emily Salter, retail analyst for GlobalData.

“Looking ahead, consumer sentiment remains highly negative despite a slight rise in March, versus February. The potential extension of the Brexit deadline to 31st October 2019 is likely to constrain consumer spending on non-essential goods throughout the period, in particular due to concerns surrounding inflation. In the short term, the school Easter holidays will drive footfall to stores in April, but the good weather predicted over the Easter weekend is likely to provide more of a boost to leisure rather than retail spending,” concluded Salter. (PC)

Fibre2Fashion News Desk – India

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