The British Retail Consortium (BRC) has said there is an urgent need for the measures outlined in the Budget to boost consumer confidence, following a “dramatic slowdown” in the retail sector.
Responding to the February sales index figures released by the Office of National Statistics yesterday (24 March), the BRC warned that customers and retailers face increasingly challenging times.
Go deeper with GlobalData
“Customers are seriously concerned about jobs and mounting pressures on their own finances. Food spending is holding up. It’s sales of things like clothing and household goods that are struggling most,” said BRC director general Stephen Robertson
According to the ONS’s statistics, UK food retailers recorded declining sales volumes during February, down some 2.2% against February 2010.
Between January and February, grocery retailers recorded a decline of 0.4% in sales volumes, while during the three months to February, food sales declined by 1.2% against the three months before it.
See Also:
Meanwhile, food sales were down some 2.9% during the three months to February against the same period of 2010.
How well do you really know your competitors?
Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.
Thank you!
Your download email will arrive shortly
Not ready to buy yet? Download a free sample
We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form
By GlobalData
