Retail sales growth slowed significantly last month as consumer confidence "continued to sink” amid the cost of living crisis, new research has revealed. A rise in household bills, food and fuel has started to affect customer spending patterns, separate research from Barclaycard found. Experts added that the growth in total sales in March was buoyed by price rises across the retail sector.
The latest BRC-KPMG retail sales monitor revealed that total sales increased by 3.1 per cent in March, slipping back from a 6.7 per cent rise in February. The new data highlights the new challenge for the retail sector just two years blighted by the pandemic. The BRC-KPMG data showed that like-for-like retail sales were down 0.4 per cent against the same month last year.
This story is from the April 12, 2022 edition of The Independent.
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This story is from the April 12, 2022 edition of The Independent.
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