Consumers have “put the brakes” on their shopping habits due to the soaring cost of living, according to figures.
The latest BRC-KPMG retail sales monitor revealed that sales dipped in April after a sharp downturn in consumer confidence. Separate figures from Barclaycard showed that credit card spending on retail and eating out slowed last month as people tightened their belts.
Data from the BRC and KPMG reported that total sales fell 0.3% in April – the first decline in 15 months. On a like-for-like basis, UK retail sales dropped by 1.7% as shoppers reduced their spending on big ticket items.
