A hard rain falls on the high street
Thanks to the wet weather, last month rain was falling and so were retail profits. In fact, February was a lousy month for retailers as business slid into a puddle of doom.
Unless, you happened to sell…waterproof jackets, sales of which were up by 2.4%. Yes, if you’re an outdoor retailer, your cash registers will have been ringing with the sounds of soaked punters snapping up kagoules, wellies, anoraks and umbrellas to fend off the interminable water from the sky.
According to the BDO sales tracker, which monitors retail sales, fashion sales fell by 3.3% because the only thing it was possible to wear was a large waterproof condom and a boat. But like-for-like sales were also hit across the board, dropping by 0.9% due to the dismal wet weather.
But it’s not all bad news for the beleaguered high street! In fact, retailers have escaped relatively unscathed. Sales of homewares went up sharply, rising by 9.8% on last year – probably because we were all spending so much time holed up in the house. And those who managed to get to the high street have been spending their money quite generously.
BDO said: ‘The bad weather has certainly had an impact on footfall, but retailers are telling us that those consumers that braved the elements were spending and that conversion rates were up, which softened the blow.’
So it’s not a complete wash out. And I bet MONSOON did well! Hahahaha!
(I’ll get my waterproof coat.)