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Sales Marketing
Bringing sales marketing news from around Berkshire |
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Poor Weather Rains on Retail Sales
Statisticians are blaming poor weather in May for a slowing down in high street sales. A run of wet weather in the first half of May coupled with rising interest rates has impacted sales figures for May, according to the British Retail Consortium.
The heatwave in April brought the promise of increased sales particularly for outdoor goods and gardening equipment. But as retailers geared up in anticipation of a busy month, a spell of unexpectedly bad weather was waiting just around the corner. Meanwhile another hike in interest rates further dampened the spirits of high street shoppers, resulting in May being the slowest month since November for sales.
Stores selling DIY, BBQ, and gardening equipment felt the impact the hardest, as did shops selling summer clothing. The sales slump suggests the 4 interest rate rises in recent months have begun to have the desired effect – which could be welcome news for mortgage payers as the Bank of England begin their monthly meeting to discuss rates. As consumer spending slows, it seems unlikely any further rises will be on the horizon.
As for the weather, it seems to have picked up with June being dry and warm so far, with temperatures slightly above average.
www.businessinberkshire.co.uk/salesmarketing
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