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16 May 2022

Millions of people across the country will benefit from cleaner air and cheaper ways to travel and keep active, thanks to £200 million of government funding for new walking and cycling...

12 May 2022

Local Bike Shop Day 2022 was a great success across the UK, with online platforms thriving as well as a surge in the physical footfall seen in-stores!

12 May 2022

We Can, You Can is a celebration of the many faces of cycling. The way we move is changing. And the people leading the change are like me and you. We can, you can.

10 May 2022

The speech sets out the government’s agenda for the upcoming Parliament, outlining proposed policies and legislation. An overview of the main announcements relevant to independent shops is...

28 Apr 2022

To celebrate Local Bike Shop Day on Saturday 30 April, BetterPoints are offering QUINTUPLE points and the chance to win a £55 bike service by choosing to travel on two...

26 Apr 2022

Wheels for Wellbeing is a Disabled people’s cycling organisation who campaign for equal access to cycling...

26 Apr 2022

The annual celebration of bike shops across the nation is fast approaching! Be sure to pop down to your local bike shop this Saturday to get a taste of the passion, knowledge and personalised...

21 Apr 2022

On Local Bike Shop Day 4 lucky customers that purchase a bike through Cyclescheme will be awarded a £250 cycling voucher for the store they collect the bike from! In addition to offering a...

21 Apr 2022

Cytech are attending the Cycle Show and will be demonstrating key practices in bike maintenance that are useful for both the trade and public. Alongside the show we're offering...

21 Apr 2022

The Scottish Government retail division are looking for input with regards to the recent adaptations in response to the Covid-19 pandemic.

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Retail sales in March and April 'better than expected'

Posted on in Business News , Cycles News

Retail sales in March and April 'better than expected', according to the British Retail Consortium's (BRC) Economic Briefing Report reported by IRC member BIRA.

The BRC Analysts' Q2 Forecasts for 2021 and 2022 Retail Sales and Prices is available to download from the Retail Insight and Analytics website.

Key points include:

  • We have revised our sales forecasts significantly compared to our Q1 projections. Both Food and Non-Food Sales were stronger in March and April than what we had expected in January, and we now expect higher spending for the following months than we did in Q1.
  • We now project Total Sales to increase by 5.9% (an upward revision from 1.2% projected in Q1), with Food sales rising by 2.0% (an upward revision of our Q1 forecast of 0.3%), and Non-Food sales increasing by 9.1% (an upward revision from our Q1 projection of 2.0%).
  • For 2022 we forecast Total Sales to decrease by 3.4%, with Food sales projected to fall by 1.0%, while Non-Food sales projected to decline by 5.4%.
  • We revised our Shop Prices forecasts for 2021: we now expect Food prices to rise by 1.1% (a downward revision from our Q1 forecast of 1.3%), but our expectation of the evolution of Non-Food prices has remained unchanged at -2.2%. This implies that overall Shop Prices would decrease by 1.1%, compared to our Q1 projection of -1.0%.
  • For 2022, our price forecasts are unchanged from our Q1 projections. We expect Food prices to rise by 2.0% and Non-Food prices to fall by 1.8%, which means that Shop Prices would fall by 0.5%.

In producing these forecasts, we have assumed that restrictions will lift according to the roadmap, that no another lockdown will be imposed and that the vaccination rollout will continue at pace.


 

 

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