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Worst drop on record for UK retail
Business digest: British Retail Consortium says people not shopping ‘unless they really had to’
The UK retail market last month suffered its worst fall in sales since records began in 1996, according to the British Retail Consortium (BRC).
Sales in March were down 1.9 per cent on figures from a year ago, whilst like-for-like sales were down 3.5 per cent, the worst drop in six years. Even internet sales showed signs of slowing.
The only growth sector was footwear, whilst food, clothes, homeware and everything else saw a decline in demand.
The BRC said shoppers no longer bought things "unless they really had to", a trend made worse by the first drop in disposable income for 30 years.
Read a full report at BBC News. ·
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shoppers no longer bought things "unless they really had to"
Halleluyah, people are finally waking up to the fact the most marketing is bull and that we need far less than we think we need. A tight squeeze on the wallet can be a blessing in disguise.