BRC: Sales heat up in March

Responding to the latest ONS Retail Sales Index figures, which showed sales 3.8% by value, and up 3.3% by volume, Kris Hamer, Director of Insight at the British Retail Consortium, said:

“Sales continued to grow in March as the sunshine and warm weather encouraged people to spend more. Clothing and footwear performed well as consumers sought to take advantage of the good weather and prepare for summer. The sunny weather also gave a boost to garden supplies and DIY, as people spent more time outside.  

“It was not all good news for retailers as the start of April unleashed over £5bn in costs from increases to employer NICs and National Living Wage. This will rise to £7bn when the new packaging tax comes into effect later this year. Furthermore, the upcoming business rates reform could see 4,000 shops paying even more in business rates, which would cost shops and jobs. Government's aim is to support high streets across the country, which is why they must ensure no shop pays more as part of their rates reform.”

-ENDS-  

Notes:

According to the ONS, on a Year-on-year seasonally adjusted basis:  

• Sales by Value (amount spent) increased 3.8% YoY
• Sales by Volume (quantity bought) increased 3.3% YoY