pills

Explorer DECODED

Previous edition: 08 May 2024
Share article

Get the full version straight to your inbox.
Exclusive access to our best-in-class data & intelligence
Subscribe now

UK retail sales drop 4% in April 2024 amid poor weather

The decline contrasts with the 5.1% growth seen in April 2023 and falls below the three-month average growth of 0.5%.

UK retail sales decreased 4% year-on-year (YoY) in April 2024, according to the British Retail Consortium (BRC).  

This downturn contrasts with the 5.1% growth in the same month of 2023 and falls below both the three-month average growth of 0.5% and the 12-month average growth of 2.2%. 

The BRC's data covers the four weeks from 31 March to 27 April 2024. It also reveals that food sales saw a 4.4% increase over the three months to April 2024, as compared to a 9.8% growth over the three months to April 2023.  

This figure is below the 12-month average of 6.7%.  

Non-food sales in the UK declined by 2.8% YoY over the three months to April 2024, compared with a growth of 1.2% in April 2023. 

In-store non-food sales decreased by 2.4% YoY over the three months to April, a downturn from the 3.9% growth in April 2023 and below the 12-month average decline of 0.7%.  

In April 2024, online non-food sales fell by 5.5% YoY, compared to a fall of 3.6% in April 2023 - a steeper decline than the 3.5% seen over three months and the 3% seen over 12 months. 

The online penetration rate for non-food items increased slightly to 36.2% in April 2024 from 36.1% in April 2023, marginally above the 12-month average of 36.1%. 

BRC chief executive Helen Dickinson OBE said: "Dismal weather and disappointing sales led to a depressing start to Spring for retailers, even accounting for the change in timing of Easter. 

“People delayed typical Spring purchases despite retailers’ attempts to entice customers with heavy discounts. A dull, wet April dampened sales growth for clothing and footwear, especially outdoor sportswear, as well as DIY and garden furniture.  

“Promotions in computing did boost sales as many sought to upgrade their tech a few years post the pandemic surge in tech sales.  

“Many retailers are hoping for brighter sales over the summer months as social events ramp up, and consumer confidence could improve with a potential cut in interest rates.” 

A recent report by the BRC and Sensormatic IQ revealed that the UK retail sector experienced a 7.2% YoY decline in footfall in April 2024.  

Latest news

Analysis: Could UK self-driving unicorn Wayve overtake its competitors?

UK-based autonomous vehicle (AV) technology startup Wayve announced on Tuesday (7 May) that it had raised $1.05bn in a funding round led by SoftBank Group. The funding will be used to boost the development of its Embodied AI technology, which Wayve has claimed can learn from human behaviour.

Piedmont gets state regulator permit for North Carolina lithium mine

The permit, issued after Piedmont Lithium posted a $1m reclamation bond, allows the company to develop an open-pit mine.

AI-powered insurance solutions provider Simplifai garners funding

Simplifai, a company that specialises in AI automation solutions for the insurance and banking sectors, has completed an investment round with Idékapital as the lead investor.

Aramco Q1 net income slumps more than 14% to $27.27bn

Revenue fell to $107.21bn (SR402.1bn) from $111.32bn in the first quarter (Q1) of 2023.  

Arbuthnot Latham bolsters international banking team

Private and commercial bank Arbuthnot Latham has named Amit Modha as head of the Middle East and a director in the international banking division.

In data: Trends and trajectories in US defence spending

Insights into the dynamic landscape of US defence spending and technological advancements.

Gordian reveals construction cost trend analysis tool

Gordian, a data-driven solutions provider for all phases of the building life cycle, has unveiled its new offering, Data Insights - Cost Trends.

AstraZeneca to withdraw Covid-19 vaccine globally

Countries such as Australia have already ceased the supply of Vaxzevria, with its use discontinued since March 2023.

2024 future product report: Lincoln

A new CEO in the US last year and more recently a fresh leader for China have paused a formerly planned big push into EVs or at least tweaked and delayed the strategy.

Campari's “steady” Q1s - key takeaways

Campari’s Q1s represented the first set of quarterly numbers presented by new CEO Matteo Fantacchiotti. He faced questions on the US, Europe and Courvoisier.

Title test

Copy text test

Button test Olivia

Newsletters in other sectors

Aerospace, Defence & Security

In data: Trends and trajectories in US defence spending
08 May 2024

Explore our market-leading Intelligence Centers

Still looking?

Search companies, themes, reports, as well as actionable data & insights spanning 22 global industries

Explorer

Access more premium companies when you subscribe to Explorer