6% year-on-year in March, according to British Retail Consortium data. 9% year-on-year increase, according to British Retail Consortium and KPMG data. Mixed performance was seen across retail categories in March.
Demand was robust for computers, toys, and homeware in March, the British Retail Consortium data indicated. However, the clothing and footwear sectors faced challenges in March, the BRC data showed. 3% in March, according to Barclays data, with travel agencies, airlines, and public transport suffering from a fall in appetite for international travel, Barclays data reported.
Consumer spending patterns showed essential spending returning to growth while discretionary spending slowed. 9% year-on-year in March, Barclays data indicated. 5% year-on-year in March, according to Barclays data.
1% year-on-year in March, Barclays data reported. Spending remains resilient across categories such as clothing, entertainment, and digital content & subscriptions, according to Barclays head of retail Karen Johnson. The Middle East conflict impacted consumer confidence and travel decisions.
According to Barclays survey data, 14% of UK adults are delaying major purchases or financial decisions due to uncertainty around the Middle East conflict. The uncertainty surrounding international travel due to the Middle East situation negatively impacted sales of travel-related goods, British Retail Consortium and KPMG data indicated. Multiple people reported cancelling their intended travel plans, Barclays researchers said.
Consumer confidence dropped in March due to fears about the impact of the war in Iran, British Retail Consortium and Barclays surveys reported. Economic pressures mounted on retailers from supply chain disruptions and rising costs. Damage to supply chains has already been done due to the Middle East conflict, British Retail Consortium chief executive Helen Dickinson said.
Rising costs from shipping, fertiliser, insurance, and commodities are piling pressure on retailers, according to the BRC chief executive. The exact extent of these cost increases remains unclear. Consumer sentiment and confidence indicators showed mixed signals.
According to Barclays survey data, 71% of UK adults feel confident in their ability to live within their means each month. Consumer spending caution is heightened by the current and potential impact of the Middle East conflict, KPMG UK head of consumer, retail and leisure Linda Ellett said. Cost-of-living concerns and economic uncertainty continue to weigh on confidence, prompting caution and a desire to cut back, Barclays head of retail Karen Johnson reported.
Easter timing and inflation factors influenced retail performance. The early Easter provided a boost to food sales, British Retail Consortium chief executive Helen Dickinson said. Food and drink continue to drive monthly retail sales growth, with inflation a key factor, KPMG UK head of consumer, retail and leisure Linda Ellett reported.