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Retail sales "fell off a cliff" and down 4.2% for April

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Quote

 

Retail sales growth fell “off a cliff” in April after a record decline, thanks to the timing of Easter and its impact on consumer spending.

According to the latest BRC-KPMG Retail Sales Monitor for the month of April, UK retail sales went down 4.2 per cent on a like-for-like basis compared with April 2017.

On a total basis, sales declined 3.1 per cent in April year-on-year – the sharpest decline recorded since the monthly sales monitor started in January 1995.

However, the monitor indicated that April’s figures were distorted by the timing of Easter this year as shoppers did much of their stocking up in March.

https://www.retailgazette.co.uk/blog/2018/05/april-retail-sales-fall-off-a-cliff-amid-record-decline/

 

Another 3-4% drop, interesting

 

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3 minutes ago, Uncle_Kenny said:

Who on this forum "stocks up" for Easter?

Guilty. I spent 8 quid on Easter eggs in March for the nieces and nephews...... 

Decided not to buy a new car though. 

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Presumably they mean physical shops rather than online.

It always surprised me that sales always seemed to grow, at some point the population will stabilise and wage growth stop.

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In the past debt helped keep retail up......now with greater education and the social acceptance that less is more, buying more stuff will not make anyone happier, make do and mend, learning to cook, recycling, upcycling, etc helps save money when less money to spend on discretionary purchases about......apart from that people do not have the space to store more stuff, lots of good pre-loved stuff available to buy for very little....the people with the money to buy have enough already, they if they can, prefer to do things rather than buy things.;)

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However, the monitor indicated that April’s figures were distorted by the timing of Easter this year as shoppers did much of their stocking up in March.

Thing is, the March numbers weren’t exactly great either from what I recall. Around 1.5% which is not above the norm.

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Because is was very snowy during the first quarter.... waiting for the second quarter weather forecast.. to confirm stagnation...

a country in flatline 😎

  • 0.5% interest rate
  • Borrower at max capacity
  • Prices continue to rise
  • New Borrowers are in decline.... (Have more kids!) 🤣

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54 minutes ago, Uncle_Kenny said:

Who on this forum "stocks up" for Easter?

I stocked up on chocolate after Easter in M&S when it was 10p. You'd have to be crazy to spend the full price amount they want per KG of chocolate before it's discounted by at least 60%.

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2 minutes ago, stuckin2up2down said:

I stocked up on chocolate after Easter in M&S when it was 10p. You'd have to be crazy to spend the full price amount they want per KG of chocolate before it's discounted by at least 60%.

Sell high, buy low......or don't buy at all...boil and paint an egg.😉

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1 hour ago, winkie said:

In the past debt helped keep retail up......now with greater education and the social acceptance that less is more, buying more stuff will not make anyone happier, make do and mend, learning to cook, recycling, upcycling, etc helps save money when less money to spend on discretionary purchases about......apart from that people do not have the space to store more stuff, lots of good pre-loved stuff available to buy for very little....the people with the money to buy have enough already, they if they can, prefer to do things rather than buy things.;)

Also, I would say that the smartphone, which is a way of life for the younger generations is also responsible for the lack of "stuff" that people accumulate. Think of the number of devices it has replaced. Off the top of my head I can think of: House phone, digital camera, CD players, DVD player (and the media that people also used to buy at £10/pop), portable games console, PC in some cases, TV in some cases especially amongst the young, watch, calculator, alarm clock, tomtom.

Surely this must have an impact on retail sales. 

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46 minutes ago, Freki said:

Guess what number is not going to improve with the oil prices surging like it has recently.

Brent crude now @ $77/£57bbl.

Recession ahoy. 🙂

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I drove to my local town centre recently > I have to think about going there and plan the route as the one way system is so complicated and keeps changing, it is very easy to end up in a street that is busses only and the local council then love to send you a fine. So going there is only if I have to. 

Once in the car park I notice that the 2 hours parking has increased from £2 for two hours to £3 so 50% inflation not the 2% we keep being told. Then I could not find the pay machine just notices saying pay here, so I paid via phone which used to attract an extra payment of 14p that has gone up to 40p. In the scheme of things these increases are not life threatening but all add up to less money in peoples pockets to spend. The hassle of the whole outing must put other people off just popping into town now and again and then making purchases. 

The retailers in these town centres who pay massive business rates need to lobby the local councils to make a retail experience a pleasant experience not an expensive obstacle course with shopping as an add on. 

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Indi:

https://www.independent.co.uk/news/business/news/uk-retail-sales-drop-consumer-spending-austerity-wages-income-brc-a8342661.html

Grauniad:

https://www.theguardian.com/business/2018/may/09/uk-retailers-suffer-sharpest-sales-drop-for-22-years-in-april

Quote

In the latest evidence of the slowdown in the economy since the turn of the year, the latest health check from the British Retail Consortium (BRC) and KPMG found that sales were down by 3.1% in April, the biggest decline since the survey was launched in 1995.

The BRC/KPMG survey showed an even bigger drop in monthly sales once the figures were adjusted for changes in the amount of shop-floor space over the past year. On a like-for-like basis spending fell by 4.2%.

Interesting that various media reports of this story mention worst in 22 or 23 years, when actually it's the worst on record (in this series). Beter sotry title: WORST... RESULTS... EVER...

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From the FT:

https://www.ft.com/content/4221dd88-535d-11e8-b3ee-41e0209208ec

 

Quote

Shares in Greggs fell by almost a fifth on Wednesday after the high street bakery chain warned on full-year profits and analysts pointed to a retail downturn even at the cheapest end of the high street.

The news came as pub operator JD Wetherspoon reported a recent slowdown in sales...
...
Greggs, which sells £2 breakfasts and sausage rolls for under £1, blamed “weak customer footfall in retail locations”...
...
Roger Whiteside, chief executive, said: “Customers are spending more but there are just fewer of them out there.”

 

Greggs and Spoons both reporting a slowdown. Very surprised about Greggs as I remember Dominos getting stronger during and after the GFC. I guess they are different businesses though. For Greggs people need to be out and about in town. Who the F wants to do that.

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4 hours ago, payoyo said:

Also, I would say that the smartphone, which is a way of life for the younger generations is also responsible for the lack of "stuff" that people accumulate. Think of the number of devices it has replaced. Off the top of my head I can think of: House phone, digital camera, CD players, DVD player (and the media that people also used to buy at £10/pop), portable games console, PC in some cases, TV in some cases especially amongst the young, watch, calculator, alarm clock, tomtom.

Surely this must have an impact on retail sales. 

Actually has with me...no wrist watch, no home computer,  no home phone, no camera. Printing via public library. Love the minimalism of it all.

And not even a new smartphone, sim only £20 per month on 10 GB data, unlimited calls otherwise.

Doing my bit, crash by name, economic crasher by nature.

Put up interest rates and I might consider spending a bit. Zero interest on savings, zero spend.

Edited by crashmonitor

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4 hours ago, payoyo said:

Also, I would say that the smartphone, which is a way of life for the younger generations is also responsible for the lack of "stuff" that people accumulate.

Accumulating stuff is expensive these days. With housing costs hitting 10,000 a square metre, people have twigged they have no where to put tat. 

Go into any high street, pop into a surf clothing shop, itll be empty, pop into McMillan Cancer or similar and itll be bursting to the seams. UK economy is a basket case, because of high housing costs.

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8 minutes ago, Ash4781 said:

Time to raise interest rates ? 

But muh pwoperty pwices!

Edited by Cosmic Apple
Missspelt my miss-spellings!

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16 minutes ago, Ash4781 said:

Time to raise interest rates ? 

"Another co-ordinated downturn the Bank of England's useless general equilibrium models failed to anticipate."

Is what Carney won't say.

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  • 302 Brexit, House prices and Summer 2020

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      • down 5% +
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      • up 5%



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