UK Electricals Sector Report summary
May 2022
Period covered: Period covered: 03 April – 30 April 2022
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.
Electricals sales fell 00% YoY in April, according to the Retail Economics Retail Sales Index (value, non-seasonally adjusted) against a 00% rise a year ago.
Pre-pandemic comparisons are more encouraging, with sales growth rising by 00% against April 2019.
Annual comparisons are distorted by the tail end of the third national lockdown a year ago, when non-essential shops reopened for the first time in three months on 12 April.
The inclusion of Easter in April this year compared with March a year ago is also artificially boosting performance.
There was little change in market conditions with ongoing supply chain disruptions impacting stock availability which is ultimately suppressing sales.
In terms of category performance, Computing was lacking any notable levels of demand as less reliance was placed on home office equipment as the return of office working gained momentum.
Demand for household appliances was broadly in line to recent trends of smaller, lower value, appliances outperforming larger, higher value goods.
This fits in with the narrative of rising living costs which stepped up in April.
UK consumer confidence fell seven points to -38 in April according to GfK data as concerns about the economy and personal finances waned.
Levels of 00 or more are only seen in the lead up to recessions.
Concerningly, over 9 in 10 consumers (91%) reported an increase in their cost of living (during the period 13 – 24 April), up from 88% in the first half of April (ONS).
00 00 (00%) of consumers are cutting back on non-essentials as a result, while 00 00 (00%) are using less energy in their homes.
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Online sales growth improves
Source: ONS
