Retail predictions: Easter good, but overall bad, says Oracle
But the British Retail Consortium have said that despite a spurt in like-for-like sales (eww, spurt) of 4.2% in April, the late Easter has brought the worst underlying retail performance since 2012, causing overall annual retail growth to slow down.
One of the reasons for the overall crappy performance was heavy discounting on food, as supermarkets try to compete with the budget big hitters. And KPMG, who helped to compile the report with the BRC predicts that this month, people will be tightening their belts.
Some guy at KPMG said:
‘After splashing out at Easter shoppers may be more restrained in the forthcoming months as they keep a keen eye on cash. However, if we have fine weather and the good economic news keeps coming, this should give retailers the momentum they need to drive sales of summer stock.’
But let’s face it, really, they have no idea. It seems that highly paid retail analysts are about as successful at predicting the future as Russell Grant. You may as well stand outside, lick your finger to see which way the is wind blowing and say: ‘The clouds are moving east, which means there’ll be an upturn in sales of charcoal briquettes and children’s trampolines.’