Total sales were down 1.9% on the year, but the bad news doesn't stop, with like-for-like sales down a whopping 3.5%, and internet sales growing at their slowest rate since records began (which admittedly sounds a little more dramatic than it actually is, given that 'records' only began in 2008...!)
Big falls on areas as diverse as clothing, homeware, electrical, food and drink, books... with the only growth category being... somewhat mysteriously, footwear (although it should be noted that those were frequently discount driven purchases).
But why so glum, shoppers? Well, whilst the late timing of Easter is a factor, this is only a small part of the story, as high inflation, low wage growth, increasing fuel and utility costs, higher VAT, falling house prices, and uncertainty about future job cuts and tax rises all contribute towards a reduction in not just consumer's disposable income, but their confidence and willingness to spend money also..
That's all far too depressing for a Tuesday morning, so where is the sunshine amongst all this rain?
Well- with the feel-good factor running high in the coming weeks with the royal wedding, and more bank holidays then you can shake a stick at, retailers can hope for some much needed good news as optimistic customers prise open their dusty wallets, probably for bbq gear, burgers and booze, summer clothing, memorabilia and so on..
Also... Research group Springboard report that footfall in town centres and High Streets across the UK rose by 7.8% in March compared with the previous month, leading their Chief Exec Steve Booth, Springboard's to observe that "Whilst it is early days, this starts to tell a positive story about how consumers are returning to their local High Streets".
Thus, there is hope yet, although it is now clear that it is no less than our duty to enjoy each and every one of those imminent bank holidays- so party like it's not 2011, your retailers need you!
