Pace of decline on the High Street stabilises

Volume of sales in September was down year-on-year, but the decline has now stabilised.
Author:
Publish date:
Social count:
0
130_Shopping 300.jpg

According to the CBI’s latest Distributive Trades Survey, 24 per cent of retailers saw sales volumes rise year-on-year, while 39 per cent reported a fall. That gives a balance of -15 per cent, the weakest since May 2010.

Although sales volume growth was virtually unchanged in August at a fall of 14 per cent, this was slightly weaker than expectations of -seven per cent.

The three-month moving average of sales, which smoothes out volatility in the monthly figures, also declined by 11 per cent, at the fastest rate since August 2009.

Sales were reported to be poor for the time of year by a balance of -30 per cent of retailers, with the decline in volumes felt across almost all the main sub-sectors.

Looking ahead to next month, sales volumes are expected to decline at a similar rate of -14 per cent.

Judith McKenna, chair of the CBI Distributive Trades Panel and ASDA chief operating officer, said: "High Street sales are sluggish but appear to be stabilising.

"However consumer confidence continues to be bruised by a combination of low wage growth, high prices and rising unemployment. Shoppers are still clamping down on discretionary spending and focused on buying the basics at the best price.

"With the consumer squeeze set to get tighter with the winter utility bills rise, we expect retailers will face a challenging October."

The volume of orders placed upon suppliers fell at a balance of -16 per cent of retailers, and is expected to decline at a similar rate next month at -19 per cent.

Related

Featured Jobs

Vivid Job Logo 620 x 349

Digital Marketing Executive - Toys & Games

Vivid is Britain’s biggest toy company and the 20 largest in the world. With offices across the globe, they sell an amazing portfolio of toys and games to over 60 countries. Vivid is best known for its association with blockbuster brands and is very excited about future opportunities around the world.

Liberty

UK Sales Agents

Liberty House Toys have been appointed as the exclusive UK distributor for the BiOBUDDi brand, and we are pleased to introduce this new unique, innovative and exciting range of 100% environmentally-friendly toy building blocks. We are seeking experienced sales agents with existing network in the toy retail market.

Gameplan Job Logo 620 x 349

Head of Product Development & Marketing

Our client is a privately owned French toy and games manufacturer which sells through distributors in forty countries. The company develops and sells innovative electronic interactive toys and games for the educational and gaming markets, and also takes suitable licenses. To progress its successful business development a Head of Product Development & Marketing is to to recruited.

HIT Entertainment Job Logo 620 x 349

Licensing Systems Administrator

The Contract System Coordinator is a newly created role to support the deal term entry process into Mattel’s new Contract Management System for its Licensing business. The role will support the Business Teams at the Deal & Amendment phase of the contracting process and act in conjunction with the System Administration team.