Poll: Cycle retail sales in March
Posted on in Cycles News , Polls & Results
High street sales suffered their sharpest monthly fall in more than three years in March.
Like-for-like sales fell by 4% compared with a year ago which is the greatest monthly drop since September 2011.
Experts suggest the drop is due to lower footfall levels and retailers slowly weaning customers off heavy discounts.
The survey also pointed out that this year Easter fell two weeks earlier, and some consumers may have been delaying purchases until the long Bank Holiday weekend, when they will have more time to shop.
The fashion sector was the poorest performer, with like-for-like sales falling 5.5% due to low footfall levels on high streets and in retail parks.
The best-performing sector was homeware, which notched up like-for-like sales of 6.4%, with the report saying this area gained the most from rising consumer confidence resulting from lower fuel and food prices. It added that big-ticket furniture and department stores gained most of all but that spending with DIY retailers remains muted.
Sophie Bevan, head of retail and wholesale at BDO, said: "We know consumers have money to spend, but these figures show they won't commit unless they feel the product and the price is right.
How did the cycle retail sector compare? Were customers getting their purchases in early ready for rides over the Easter weekend? Let us know by taking part in this month's poll.