Easter lift for high street sales
The latest snapshot from the British Retail Consortium (BRC) and KPMG revealed the total value of sales surged by 6.6 per cent in March – the strongest growth since April 2006 – while growth hit 4.4 per cent on a like-for-like basis.
But the BRC said the sales rise was only half as good with the effect of Easter stripped out, implying underlying sales growth of around 2 per cent, as "pre-election uncertainty" continued to hamper spending.
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Hide AdHelen Dickinson, head of retail at KPMG, said: "The timing of the majority of Easter spending, falling into the March 2010 period but in April last year, has boosted this month's figures and makes year-on-year comparisons difficult. "Without this uplift a gloomier picture would have emerged – concern about the future continues to weigh on consumers' minds."
Competition between supermarkets to attract cautious shoppers saw "the most intense March for eight years for promotional activity", added the BRC.