High street fashion sales bounced back in January, posting a year-on-year rise of 1.9%, BDO’s monthly tracker shows.
The overall tracker, which monitors store sales across all sectors, found sales increase grew by 1.4% year on year in January, following the worst December figures since the tracker began in 2008 and down 5.3% on the previous year.
The first two weeks saw fashion sales increase by 5% year on year but like-for-like sales did move back into negative territory once the Sales period ended, the report showed. The BDO high street sales tracker monitors in-store sales from mid-market retailers including French Connection, White Stuff, Oasis, Karen Millen, Coast, Hobbs and TM Lewin.
“The lull between Black Friday and the January Sales was particularly noticeable at the end of 2015 and the beginning of 2016,” said Sophie Michael, head of retail and wholesale at BDO. “Retailers might be getting better at attracting the new generation of savvier shoppers in discounting periods, but margins will suffer unless they sell full-price stock too.
“The strong retail performers demonstrate that consumers are willing to pay full price if they see a desirable product.
“The stores that will thrive in 2016 will be the ones who combine a strong customer service proposition with an attractive brand and a compelling product mix.”