
The UK?s high street endured its worst month since the beginning of the global financial crisis in August, hit hardest by bad weather and Brits heading abroad.
The BDO?s monthly High Street Sales Tracker revealed that August recorded a huge 4.3 per cent drop in year-on-year sales, the biggest fall since November 2008 and worryingly the sixth monthly dip of 2015. All retail sectors suffered in what BDO described as the ?summer to forget? with fashion sales down 5.5 per cent during the month, homewares down 3.3 per cent and lifestyle goods off 1.3 per cent. Online sales grew 11.4 per cent but the like-for-like growth is the lowest ever recorded by the BDO index. Sophie Michael, head of retail and wholesale at BDO said the high street had lost out as UK consumers opted to spend their disposable income on leisure pursuits, eating out and holidays. ?The strength of the pound has encouraged Brits to spend more abroad rather than in the UK,? she added. However the BDO said there were some glimmers of light at the end of the ?gloomy? month. ?The last week of August was cold and wet enough to make people think about autumn, so fashion retailers saw an uplift in sales in that final week that this summer?s fragmented discounting has so far failed to deliver,? said Michael. ?With the holiday season over and the summer weather starting to fade, retailers will be hoping this is the start of a shopping spree that sees them into the autumn season and beyond. Retailers likely to benefit in the coming months are those with the right product, at the right price with aligned multi channels.? Read more about the high street:- The 10 unhealthiest high streets in the UK
- British high street could gain ?7.8bn if stores harness mobile strategies like Apple Pay
- British high street defeated online commerce in January sales
Charlie Mullins: Reports of the death of the high street may have been greatly exaggerated
Share this story