Consumers put value of dwelling fears behind them as they splashed out on Mom Day presents in March, serving to to barely increase retail gross sales, however damp climate and hovering inflation has left the sector holding out for the King’s coronation in Might to see a “bigger uptick” in gross sales.

Based on information by the British Retail Consortium (BRC), customers scrambling for final minute presents for Mom’s Day helped prop retail gross sales up 5.1 per cent final month, in opposition to a rise of three.1 per cent  in March 2022.

This determine is above the three-month common development of 4.8 per cent and the 12-month common development of two.6 per cent.

Regardless of this, an unusually moist March drove gross sales down in DIY and trend as customers have been hesitant to put money into new spring wardrobes.

“Whereas the wettest March in over forty years dampened gross sales development for trend, gardening and DIY merchandise, Mom’s Day brightened up gross sales for the month,” Helen Dickinson, chief govt of the BRC, stated.

“Shops got an additional increase, as last-minute customers dashed to their native excessive streets and buying centres to buy jewelry, fragrances and flowers.”

Nevertheless, as inflation soars, Paul Martin, head of retail at KPMG, stated the figures have been “disappointing” for retailers as excessive prices restricted shopper spending for the remainder of the month.

“Excessive road retailers noticed some restricted development throughout most classes in March, however as customers in the reduction of on consuming out, spending on residence comforts, equipment and furnishings noticed the largest development with folks trying to entertain at residence as a substitute,” he stated.

The sector will now be hoping for a lift from the King’s coronation in Might, with vacationers flocking to the occasion and native celebrations anticipated to raise retail gross sales.

“The King’s coronations celebration might give retail gross sales a much-needed shot within the arm amid the price of dwelling disaster – much like final 12 months’s Platinum Jubilee celebration,” Myron Jobson, senior private finance analyst at Interactive Investor stated.

James Hardiman, senior analyst on the British Retail Consortium, stated: “Retail gross sales are normally boosted by massive nationwide occasions.

“Given the King’s Coronation will probably be such a historic occasion, we count on an excellent bigger uptick in retail gross sales, with customers flocking to buy Coronation-related memorabilia, bunting, and meals and drinks to rejoice the event.”