Slowing retail growth ‘indicates importance of events and online offering for businesses’

Eversheds has commented on the recent CBI retail figures for the UK that show slowing sales in March. James Batham, retail expert and partner at the law firm, said this slowing UK retail growth indicates the importance of events and online offering for businesses.

He explained: ‘It is certainly encouraging that the figures show, for the fourth month in a row, a positive growth rate — albeit slower than expected. While the later timing of Mother’s Day and Easter this year are likely to be contributing factors to March’s sales slowdown, they are yet further reminders of the impact that “events” can have on the retail sector. In that respect, it will be interesting to see what impact the World Cup in June will have.

‘It comes as no surprise to see internet sales volumes continuing to rise strongly at the fastest pace in 11 months. This is on the back of a strong Christmas period that saw a 19.2 per cent growth in internet purchases from December 2012. There can be no denying that an effective online, and indeed multi-channel, presence is now an offering that all retailers must provide.’