Among British retail sectors showing an increase in sales volumes in the month of March this year were the furniture and hardware sectors. However, British retail sales volumes as a whole remained unchanged in March, as reported by the Office for National Statistics (ONS). This marks the first time since December that monthly revenues have not seen an increase.
Economists surveyed by Reuters had mostly anticipated a 0.3% rise in sales volumes for the month, following a recent easing of high inflation. However, the ONS revealed that sales volumes remained at 0.0% in March, following a slight 0.1% upturn in February.
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In addition to furniture and hardware sales, other sectors which witnessed a rise in sales volumes in this month included second-hand goods stores, and clothing stores. However, department stores, food stores, and non-store retailing saw decreases, with retailers citing increased prices as a factor affecting consumer spending habits.
Online spending saw a marginal increase of 0.1% for the month and 1.7% for the year.
While February showed flat retail sales, slightly above expectations, March's figures indicated a continued stagnation in sales volumes, despite previous growth in January.
Source: www.retailgazette.co.uk