Retailers had a spring in their step in March highlighted by figures released today in BDO‘s High Street Sales Tracker showing overall like-for-like sales growth among mid-market retailers up by 3.2%, making it the strongest March for four years.
After the UK saw the worst storms for two decades in February, the bright spring sunshine fed increasing consumer confidence and strong sales of new season lines, helping the fashion sector grow 4.3% year-on-year. Pent up demand also boosted like-for-like sales in the homewares and lifestyle sectors, which grew by 2.1% and by 2% respectively. Nonstore sales also performed strongly, up 34.2% year-on-year.
Don Williams, National Head of Retail and Wholesale at BDO LLP, said: “Retailers who have held their nerve on discounting have reaped rewards as the weather has improved, selling healthy volumes of new stock at full price. This momentum will serve them well as we head into the Easter holidays, which should register strong like-for-like growth given that Easter fell at the end of March last year.”
