Lockdowns have cost shops £27bn in lost sales
SHOPS have lost out on £27billion worth of sales during the three lockdowns, a trade body has revealed.
The British Retail Consortium also says some 67,000 jobs in the sector were lost last year.
Among the casualties have been household names such as Debenhams and Arcadia’s Topshop and Burton.
As non-essential stores prepare to reopen on April 12, the industry is counting the cost of a year of unprecedented disruption.
The Office for National Statistics said the amount of goods bought in shops and online rose 2.1 per cent between January and February.
But this did not offset the 8.2 per cent drop between December and January, as the country went into the third lockdown and many outlets forced to shut.
Helen Dickinson, chief executive of the British Retail Consortium, said: “Retail remains an essential part in unlocking consumer demand and driving forward the country’s economic recovery.
“It is essential that all retailers are able to open – and stay open – from April 12, and that Government continues to offer necessary support to businesses as many begin the process of trading their way back to growth.”
Retail sales were 3.7 per cent down
year-on-year last month, the ONS reported. But clothing retailers suffered a more than 50 per cent plunge, with price cutting last month failing to boost demand for garments.
Meanwhile, shoppers continued to spend online at unprecedented levels.
The internet accounted for just over 36 per cent of all retail sales last month,
a record high and up dramatically from 20 per cent a year ago.
Lisa Hooker, at accountants PwC, said: “As we edge towards the reopening of non-essential stores after Easter, retailers will be hoping that the wave of optimism sweeping consumers as a result of the successful vaccine rollout will translate into increased sales.”