April retail volumes continue on downward trend amid cost of living crisis
Retail sales volumes continue to go downward amid the cost of living crisis.
According to the Office for National Statistics, volumes rose 1.4 per cent in April following a 1.2 per fall in March, while values went up by 1.9 per cent.
But looking more broadly, in the three months to April, sales volumes fell by 0.3 per cent when compared to the previous quarter, continuing the downward trend experienced since the summer.
Commenting on the results, Ralph Robinson, head of retail at technology consultancy BJSS said: “April marks yet another month of tough results for the UK retail market, with sales volumes down 0.3% compared to the previous three months.
“And it looks like the challenges will continue: consumer confidence remains low and macroeconomic shocks like high inflation will pile greater pressure on retail sales and margins.”