Search News

Results: 1-10 of 412


Deadline extension for Strong Customer Authentication

10 Jun 2021

The FCA have announced that they have extended the deadline for implementing Strong Customer Authentication (SCA) for e-commerce transactions to 14 March 2022.
Read more…

Independents' Day UK campaign to culminate in full weekend celebration of indie retail sector across 3/4 July

2 Jun 2021

The campaign's organisers are asking the public to "pledge a few pounds" to independent retailers across the weekend
Read more…

Government Launches 'Together for our Planet' to encourage SMEs to cut emissions

1 Jun 2021

The Together for our Planet campaign encourages small businesses to pledge to cut their emissions to net zero by 2050 or sooner, while helping them grow, adapt and seize new opportunities.... Read more…

Register as a supporter for #BikeIsBest Spring Summer Campaign

28 May 2021

The Cycling Marketing Board has united with the ACT and other leading cycle organisations into one powerful voice, with a single mission - to get more people riding bikes, more often.
Read more…

#ShopKind campaign gathers momentum as retail industry comes together to tackle shopworker abuse

27 May 2021

The #ShopKind campaign was launched in April with the purpose of spreading awareness of the violence that takes place in shops on a dailybasis.
Read more…

Ecommerce expected to grow 91% in 2021, research shows

27 May 2021

Researchby RedEye shows that ecommerce growth will likely continue, after the initial excitement around physical shopping dies down.
Read more…

Retail sales in March and April 'better than expected'

26 May 2021

Retail sales in March and April 'better than expected', according to theBritish Retail Consortium's (BRC) Economic Briefing Report reported by Read more…

House of Commons thanks greeting card company Bexy Boo for community support

25 May 2021

A member of the GCA, Bexy Boo, has received a letter of thanks from the House of Commons for all the work she has done to support her home town of Knutsford

Read more…

Strengthen your Global Payments account security with multi-factor authentication

20 May 2021

On 22 May, Global Payments are adding multi-factor authentication (MFA) as a new step in the Merchant Portal login process. It's an extra layer of protectionfor your account credentials and... Read more…

Workshop announced for impending export VAT rules impacting B2C Trading

14 May 2021

The EU's incoming One Stop Shop (OSS) VAT return for e-commerce aims to simplify VAT obligations for companies carrying out cross-border sales of goods and services (mainly online) to... Read more…

Back to news menu

Retail sales in March and April 'better than expected'

Posted on in Business News, Cycles News

Retail sales in March and April 'better than expected', according to the British Retail Consortium's (BRC) Economic Briefing Report reported by IRC member BIRA.

The BRC Analysts' Q2 Forecasts for 2021 and 2022 Retail Sales and Prices is available to download from the Retail Insight and Analytics website.

Key points include:

  • We have revised our sales forecasts significantly compared to our Q1 projections. Both Food and Non-Food Sales were stronger in March and April than what we had expected in January, and we now expect higher spending for the following months than we did in Q1.
  • We now project Total Sales to increase by 5.9% (an upward revision from 1.2% projected in Q1), with Food sales rising by 2.0% (an upward revision of our Q1 forecast of 0.3%), and Non-Food sales increasing by 9.1% (an upward revision from our Q1 projection of 2.0%).
  • For 2022 we forecast Total Sales to decrease by 3.4%, with Food sales projected to fall by 1.0%, while Non-Food sales projected to decline by 5.4%.
  • We revised our Shop Prices forecasts for 2021: we now expect Food prices to rise by 1.1% (a downward revision from our Q1 forecast of 1.3%), but our expectation of the evolution of Non-Food prices has remained unchanged at -2.2%. This implies that overall Shop Prices would decrease by 1.1%, compared to our Q1 projection of -1.0%.
  • For 2022, our price forecasts are unchanged from our Q1 projections. We expect Food prices to rise by 2.0% and Non-Food prices to fall by 1.8%, which means that Shop Prices would fall by 0.5%.

In producing these forecasts, we have assumed that restrictions will lift according to the roadmap, that no another lockdown will be imposed and that the vaccination rollout will continue at pace.


 

 

Back to news menu

Useful links

If you have any other queries please contact us.