Retail Sales Stabilise In March After 10 Months Of Decline – CBI Distributive Trades Survey
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Retail sales were broadly flat in the year to March, according to the latest monthly CBI Distributive Trades Survey. The stabilisation in sales follows ten months in a row of decline.
Looking ahead, retailers expect year-on-year sales volumes to fall in April.
The key survey findings included:
Retail sales volumes were broadly flat in the year to March (weighted balance of +2% from -7% in the year to February), following 10 consecutive months of decline. Retailers expect sales to fall again next month (-25%).
Sales were reported as “average” for the time of year (0% from -1% in February). Retailers expect sales to be slightly below seasonal norms next month (-8%).
Order volumes declined in the year to March at a quicker pace than last month (-22% from -14% in February). Orders are set to fall at a similar rate next month (-24%).
Retailers reported stocks as “adequate” in relation to expected sales (-1% from +17% in February). Stock positions are expected to be broadly unchanged next month (+2%).
In addition, data from the survey showed:
Internet sales volumes declined in the year to March after having grown slightly last month (-27% from +4% in February). Retailers expect internet sales to fall at a slower pace next month (-12%).
Elsewhere in the distribution sector, wholesale volumes contracted slightly in the year to March (-8% from +15% in February) and are expected to fall marginally next month (-4%). Motor trade sales volumes grew rapidly in the year to March (+82% from +3% in February) and are set to maintain a similar rate of growth next month (+81%).
The survey included 166 respondents, of which 72 were retailers.