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Note: This report summary is one or two months behind the current month as standard reporting practice. The content is indicative only and incomplete with certain data undisclosed. Become a member to access this data or take out a free 30 day membership trial now.
Clothing & Footwear Sales
Clothing (+00%) and Footwear (+00%) sales outperformed in March, boosted by comparisons with last year’s lockdown and the easing of Covid-19 restrictions.
Compared to March 2019’s pre-pandemic levels, Clothing sales were up 00% while Footwear was up 00%.
Amid strong pent-up demand for holidays, summer fashion items traded well as shoppers updated their wardrobes ready for warmer weather and Easter getaways.
Consumers cutting back
While the post-pandemic recovery in Non-Food sectors continued in March, there are early signs of consumers tightening their belts in response to the rising cost of living.
Clothing & Footwear inflation reached a new record high in March, rising by 00% YoY.
The Retail Economics Shopper Sentiment Survey shows that over half of consumers plan to spend less on non-essential items over the next three months.
Apparel is set to one of the first areas that consumers cut back on, as 00% of shoppers plan to spend less on Clothing and Footwear due to cost of living concerns.
Discount specialists and off-price outlets are well positioned to benefit from consumers looking for deals, while premium and luxury brands should also prove to be more resilient
The Clothing and Footwear sector has enjoyed a stellar bounce back over the last twelve months as Covid-19 restrictions have gradually eased and socialising comes back on to the agenda, but this recovery is expected to lose momentum in the months ahead as cost of living pressures intensify.
Retail Economics forecasts Clothing sales to grow by 00% YoY in 2022, reaching £00, and Footwear sales to rise by 00% YoY in 2022, reaching close to £00.
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