In Business News, Merchant Loan News, Small Business

Retail spending has sprung in the spring!

The retail sector is still mounting a slow but steady recovery as new figures indicate an uplift in sales in March 2015.

A report from the British retail consortium indicated Like for like figures from 2014 were up by 3.2 percent – the largest growth from January 2014.

But this date period does include pre-easter sales and this could be clouding the results.

KPMG’s head of retail David McCorquodale, quoted “there were signs of recovery in the grocery sector.”

He also added that ”Price deflation continues to dog the sector, and while supermarkets may be selling more, they are pedalling hard to stand still. There is a long way to go before like-for-like food sales are back in positive territory.”

March 2015 figures also indicated that high street stores contributed to the growth figures more than online sales. The housing market together with furniture and household appliances were the main contribution.

March was a cooler period weatherwise and as such spring summer sales have been slow.  However we are at last seeing good temperatures creep in to April 2015 and it’s look bright for the rest of the spring.

The easter break will serve to confuse the figures on a like for like basis however positive results are indicating that we are feeling more confident in spending on the high street which is great news for our Merchant customers up and down the UK!