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Growth in retail sales volumes slowed unexpectedly in the year to April but is forecast to pick up again next month, according to the latest CBI Distributive Trades Survey (DTS).
In the survey of 122 firms, 30% of respondents said volume were up on a year ago, and 18% said they were down, giving a balance of +12%, a slight slowing in sales growth on the previous month (+18%) and below expectations (+21%).
Despite this, retailers expect sales growth to accelerate “noticeably” next month, with a balance of +40.
The CBI said that most retail sub-sectors reported rising sales volumes, including clothing stores, however overall growth was held back by a fall in the grocers’ sector.
Meanwhile, growth in internet sales rose ahead of expectations (+55%), with 65% saying they were up and 10% they were down.
Barry Williams, CBI DTS chairman and Asda’s chief customer officer, said: “With the mixed news we’ve been seeing from the high street recently it’s perhaps not surprising that retailers have reported varied fortunes this month.
“With shopping habits changing so dramatically in the last few years underlying consumer confidence is hard to read, but both retailers and wholesalers are optimistic there will be a spring in their customers’ steps, and therefore their sales, in the near future.”
