UK Shoppers Staying At Home

According to the Retail Bulletin, the office for national statistics have shown retail figures have dropped in March. The ONS said sales declines for household goods retailers, particularly furniture, as well as a fall in non-store retail sales, which includes mail order and the internet, contributed to a 0.1 per cent month-on-month decrease.

The annual growth rate declined to 2.7 per cent, the lowest since August 2003. Across the three months from January to March 2005, sales volumes were up 0.3 per cent higher than in the previous three months, an improvement on the 0.6 per cent decline in the prior three-month period.

Commenting on the figures, Paul Clarke, national retail director for Barclays Business Banking said: "The traditional Easter bounce has failed to materialise and retailers remain very cautious about the sector's outlook. Current trading conditions are difficult as footfall continues to be subdued and consumer behaviour has been tempered by a static housing market.

"We do not anticipate any upturn in high street fortunes until after the election and warmer weather prompts shoppers to restock their summer wardrobe."