UK retailers see weak March sales, says CBI Distributive Trades Survey

Retail Sales Experience Steepest Drop Since 2020

According to the most recent CBI Distributive Trades Survey, retail sales volumes saw a significant decrease in the year leading up to March, representing the fastest rate of decline since April 2020. Retailers expect this downward trend to persist at a similar pace in April.

• Sales volumes in March dropped more sharply than at any time since April 2020, with a weighted balance of -52%, compared to -43% in February.
• Expectations for April suggest sales will continue to fall at nearly the same rate, with a projected balance of -49%.
• Retailers rated March sales as “poor” for the time of year, with sentiment worsening from the previous month (-23% compared to -16%).