London Retail Sales Gained Pace in April 2009

Retail sales in London increased in April 2009 on account of Easter as well as warm and sunny weather that attracted a large number of shoppers to shops.

Central London recorded 5.4% YOY increase in retail sales during the month of April, which was higher than the 4.6% growth recorded in the UK as a whole, as reported by theretailbulletin.

Retailers in London posted a like-for-like increase in sales for April, marginally up from the 5.2% increase observed in March. However the growth of 4.6% drafted by the retailers outside London was comparatively less, but the sales figures bounced back sharply from the decline of 1.2% in March 2009.

The British Retail Consortium-KPMG Retail Sales Monitor reveals that the growth is attributed to the large number of euro zone consumers visiting the shops in London.

Warm and sunny weather in April also played a crucial role in drawing higher number of shoppers. The number of shoppers in London increased from last year, in lines with the UK on a whole. Particularly, the warmer weather at Easter boosted the retail sales of footwear, clothing and outdoor leisure; however, furniture and home ware sales faced a testing time, especially the larger purchases.

Moreover, favorable exchange rate kept on luring foreign visitors, particularly those from the Western European nations, and continued to boost the sales. However, the weakness of sterling failed to put any significant impact on the American visitors.

“Overall, London's customers are proving more resilient to recession. Since the start of the year, London retail sales have consistently outperformed the country as a whole with average growth for the year so far of 5.7% compared with almost no growth for the whole of the UK, and London continued that sort of performance into April,” British Retail Consortium stated.

According to a Research Analyst at RNCOS, “Retail data for April 2009 indicates that the trading conditions might probably be improving for the British retailers after having witnessed one of the biggest economic downturn since the World War II. Though, it is not the right time to think of it as a recovery, as the growth in April’s sales figures was largely due to the festival of Easter and a warm weather.”

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