Retail sales remain flat in March

Retail sales volumes remained flat in March 2024 following an increase of 0.1% the previous month, according to official data by the ONS. 

Non-food store sales volumes rose by 0.5% over the month, with increased footfall reported by some retailers. 

This is consistent with the rise in footfall on the high street, as seen in the national retail footfall data in the ONS economic activity and social change in the UK, real-time indicators bulletin. Rises were seen in secondhand goods stores, which includes antiques and auction houses, hardware and furniture stores, and clothing stores.

However, department stores, food stores and non-store retailing sales volumes all fell over the month with retailers suggesting that increased prices were affecting consumer spending habits.

Automotive fuel sales volumes rose by 3.2% in March 2024 to reach their highest index level since May 2022. Retailers reported that this rise was linked to increased footfall on their forecourts.

This was offset by falls in food stores and non-store retailers of 0.7% and 1.5%.

The ONS said that looking at the quarter, sales volumes increased by 1.9% in the three months to March 2024 when compared with the previous three months. This was following low sales volumes over the Christmas period for retailers.

Commenting on today’s retail sales figures for March, ONS senior statistician Heather Bovill said: “Retail sales registered no growth in March. Hardware stores, furniture shops, petrol stations and clothing stores all reported a rise in sales. However, these gains were offset by falling food sales and in department stores where retailers say higher prices hit trading. 

“Looking at the longer-term picture, across the latest three months retail sales increased after a poor Christmas.”