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Early Easter Boosts Sales
Listed under: News
Published: Tuesday, April 13, 2010
Retailers enjoyed their strongest monthly sales for nearly four years this Easter, seeing their total trade rise by as much as 6.6% in March, according to a recent report.
The March sales monitor, compiled by leading business support group, the British Retail Consortium (BRC) and professional service provider, KPMG, reveals that despite businesses facing their fiercest promotional rivalry since 2002, the first three days of Easter, including Good Friday and Easter Sunday, were surprisingly buoyant this year, experiencing their strongest monthly growth since April 2006.
The number of retailers falling into administration also fell significantly this Easter, dropping from 124 business failures in the first quarter of 2009, to just 44 during the first three months of 2010 – its lowest level in four years.
However, experts are warning retailers not to be fooled by the positive findings, suggesting the next 12 months could be less prosperous. “Everyone in Government and the business world is fooling themselves about how tough conditions might get,” says Barry Knight, head of retail at accountancy company, Smith & Williamson. “I don't think there is enough contingency planning going on about the retail sector as a whole, and the price war among commodity-based chains, such as DIY and food retailers, seems to be intensifying, rather than abating.”
Ian Geddes, UK head of retail at accountancy and consulting firm, Deloitte, agrees, adding, “Growth will be hard to come by and further retail failures seem inevitable.”
How was Easter for you this year? Email your thoughts to .(JavaScript must be enabled to view this email address)
The March sales monitor, compiled by leading business support group, the British Retail Consortium (BRC) and professional service provider, KPMG, reveals that despite businesses facing their fiercest promotional rivalry since 2002, the first three days of Easter, including Good Friday and Easter Sunday, were surprisingly buoyant this year, experiencing their strongest monthly growth since April 2006.
The number of retailers falling into administration also fell significantly this Easter, dropping from 124 business failures in the first quarter of 2009, to just 44 during the first three months of 2010 – its lowest level in four years.
However, experts are warning retailers not to be fooled by the positive findings, suggesting the next 12 months could be less prosperous. “Everyone in Government and the business world is fooling themselves about how tough conditions might get,” says Barry Knight, head of retail at accountancy company, Smith & Williamson. “I don't think there is enough contingency planning going on about the retail sector as a whole, and the price war among commodity-based chains, such as DIY and food retailers, seems to be intensifying, rather than abating.”
Ian Geddes, UK head of retail at accountancy and consulting firm, Deloitte, agrees, adding, “Growth will be hard to come by and further retail failures seem inevitable.”
How was Easter for you this year? Email your thoughts to .(JavaScript must be enabled to view this email address)
