We offer a range of high quality accounting, financial and business services in and around Milton Keynes.

March retail sales nosedive

20 Apr 2020

UK retail sales plummeted by 27% during the first two weeks of the coronavirus (COVID-19) lockdown, according to the latest figures from the British Retail Consortium (BRC).

Overall, total sales in March fell by 4.3% when compared with the same month in 2019. Demand rose sharply in the early part of the month, with sales surging by 12% as shoppers stocked up on food and other essential items ahead of the restrictions coming into force.

However, the two weeks to 4 April saw a nosedive in activity after the lockdown began and drove March to the worst performance – when stripping out seasonal distortions – since the survey began in 1995.

Commenting on the figures, Helen Dickinson, Chief Executive of the BRC, said: 'The closure of non-essential shops led to deserted high streets and high double-digit declines in sales, which even a rise in online shopping could not compensate for.'

Separately, Barclaycard figures suggested a huge boost in supermarket sales as people stockpiled food.

The data from Barclaycard suggests that supermarket purchases rose by 20% in March, while spending at restaurants contracted by 35%, and pub sales fell by 22% in the month.

Register

Why not register to receive our monthly newswire? This is packed full of essential business news and handy tax tips to help save you money.

Learn more

Tax Calendar

Our handy tax calendar provides an overview of the key tax dates for your diary.

Learn more

Calculators

B2B’s interactive tax calculators can be used to calculate VAT due, the taxable benefits on your company car and how much your savings are worth.

Learn more

Home | About us | Contact us | Logon | Register | Accessibility | Disclaimer | Help | Site map |

© 2024 B2B Business Advisors Limited. All rights reserved.

We use cookies on this website, you can find more information about cookies here.
Chartered Tax Adviser

Registered in England, Company Registration number – 7906656. Registered Office – 58b High Street, Stony Stratford, Milton Keynes, MK11 1AQ. Registered with the Chartered Institute of Taxation as a firm of Chartered Tax Advisers. Registered to carry out audit work and regulated for a range of investment business activities by the Institute of Chartered Accountants in England and Wales.