{"id":34118,"date":"2022-06-06T23:10:50","date_gmt":"2022-06-06T23:10:50","guid":{"rendered":"https:\/\/tahrir2day.com\/news\/2022\/06\/06\/shoppers-spent-less-for-second-month-in-a-row-says-brc\/"},"modified":"2022-06-06T23:10:50","modified_gmt":"2022-06-06T23:10:50","slug":"shoppers-spent-less-for-second-month-in-a-row-says-brc","status":"publish","type":"post","link":"https:\/\/tahrir2day.com\/news\/2022\/06\/06\/shoppers-spent-less-for-second-month-in-a-row-says-brc\/","title":{"rendered":"Shoppers spent less for second month in a row, says BRC"},"content":{"rendered":"
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Shoppers are spending less than they were a year ago as rising living costs squeeze incomes, according to the association, which represents retailers.<\/b><\/p>\n<\/div>\n

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In-store and online sales fell for the second straight month in May, the British Retail Consortium (BRC) said.<\/p>\n<\/div>\n

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Sales rose sharply last year after pandemic restrictions were eased, but that “spending bubble” has now burst, said Helen Dickinson of the BRC.<\/p>\n<\/div>\n

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Total retail sales fell 1.1% in May compared to May 2021.<\/p>\n<\/div>\n

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That was a sharper slowdown than April, when BRC numbers showed a 0.3% drop from April 2021.<\/p>\n<\/div>\n

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Sales of clothing, shoes and accessories, including fashion and beauty, surged as people prepared for summer holidays and social occasions, including the anniversary.<\/p>\n<\/div>\n

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But consumers were not buying larger ticketed items such as furniture and electronics, the BRC said when it released its latest monthly data, which it collects from the UK’s medium-sized and larger retailers.<\/p>\n<\/div>\n

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As inflation hits historic highs, what people are buying is costing them more. So a small drop in total sales masks a much larger drop in the volume of goods sold once inflation is factored in, the BRC added.<\/p>\n<\/div>\n

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“It is clear that the post-pandemic spending bubble has burst, with retailers facing tougher trading conditions, falling consumer confidence and rising inflation impacting consumer spending power,” said Ms Dickinson, chief executive of the BRC.<\/p>\n<\/div>\n

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  • M&S is shifting out of city centers as online sales increase<\/li>\n
  • Have the lockdown success stories lost their luster?<\/li>\n<\/ul>\n<\/div>\n<\/div>\n
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    The drop in May marks the second consecutive month of falling retail sales, as reported by the regular BRC-KPMG Retail Sales Monitor. <\/p>\n<\/div>\n

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    It comes at a difficult time for retailers, who are also facing rising costs, particularly for energy, transport and labour,<\/b> which together “forced retailers to raise their prices,” Ms Dickinson added.<\/p>\n<\/div>\n

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    The proportion of sales taking place online, as opposed to physical stores, appears to have stabilised, the BRC added. After a sharp rise during the pandemic restrictions, online sales “leveled out” at around 39%, compared with 30% before the pandemic, the BRC said.<\/p>\n<\/div>\n

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    “Retailers will be hoping that a feel-good factor post the anniversary and into the summer will start to boost some shoppers’ confidence – as overall levels of confidence are currently lower than sales suggest,” said Paul Martin, head of UK retail at KPMG.<\/p>\n<\/div>\n

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    During the four-day anniversary bank holiday weekend, people spent significantly more than the corresponding data last year (which did not include a bank holiday), data from Barclaycard on Monday suggested.<\/p>\n<\/div>\n

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    “Despite widespread concerns about the cost of living, the hospitality industry in particular will be pleased with this welcome rebound after missing out on two years of unrestricted commerce,” said Rob Cameron, CEO of Barclaycard Payments.<\/p>\n<\/div>\n

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    Spending at restaurants rose 41.5% from June 2-5. Spending at pubs, bars and nightclubs rose 74.2%, while spending on entertainment rose 67.3% and spending on public transport rose 38.8%, Barclaycard Payments said, based on credit and debit card transactions.<\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

    Shoppers are spending less than they were a year ago as rising living costs squeeze incomes, according to the association, which represents retailers. In-store and online sales fell for the second straight month in May, the British Retail Consortium (BRC) said. 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