Retailers hoping Royal wedding feel good factor will boost sales

8 May 2018 - Janet Bird

prince harry and meghan markle

Retailers have even more reason than the rest of the country to look forward to the Royal wedding later this month, hoping that it will provide a much needed boost to high street sales.

The wedding of Prince Harry and Meghan Markle is being tipped to provide an £80 million boost to the British economy; very welcome news for retailers who have endured months of disappointing sales.

April saw the seventh consecutive month of lacklustre performance when sales failed to grow by more than one percent, with the BDO High Street Sales Tracker recording a 3.8 percent year on year fall in sales.

The worst performance was seen in the fashion, lifestyle and homeware sectors, which fell 3.3 percent, 3.7 percent and 8.8 percent respectively - indeed, homeware fared worse than it had in ten years.

But the news was not all bad - online fashion sales grew by an impressive 25.4 percent compared to a year previously, boosted by April's mini heatwave.

Retailers are now hoping the current spell of good weather, coupled with the feel good factor generated by the Royal wedding and two bank holidays, is enough to kick start a high street sales revival.

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