The most recent BDO High Street Sales Tracker revealed negative retail sales growth for the fashion, lifestyle, and home sectors in April, as well as notably weak online sales.

When compared to April 2022, total retail like-for-like (LFL) sales increased by 2.2 per cent, with the fashion industry growing at a slower rate of only 1.7 per cent. At a time when inflation is double digits, this was the second month in a row with subpar results.

Even worse, despite a 6.4 per cent increase in the same month last year, internet sales only increased by 0.6 per cent.

Head of Retail and Wholesale, Sophie Michael, said the numbers “are yet more evidence of a reduction in discretionary spending as the competition for the consumer purse continues.”

Looking more closely at the previous month, BDO reported that April got off to a good start with a 4.96 per cent gain in the first week compared to the prior year.

Positive results were also seen in the second and third weeks, which fell over the Easter weekend and the start of the school break. Sales increased by 7.02  per cent and 3.58  per cent, respectively.

However, the performance ‘dipped significantly’ in the last two weeks of the month, with sales growth dropping to -2.99 per cent in week four and just +0.18 per cent in week five.