"Remarkable upturn" for furnishing stores
Website Editor • July 15, 2020
The latest data from Barclaycard cites "remarkable upturns" in furnishing sales with growth of nearly 18% after lockdown – real evidence of the pent-up demand in the sector which includes flooring.
Consumer spending fell 14.5 per cent year-on-year in June – the smallest decline since lockdown began – with month-on-month figures showing an uplift as shops re-open. But home improvement (up 31.3%) and furnishing (up 17.6% compared to May's figures which which were minus 28.2%).
Esme Harwood, Director at Barclaycard, said: “While shoppers remain understandably cautious, slowly but surely Brits are starting to spend again. Some retailers have seen really positive increases, particularly home improvement where spend has reached higher levels than before the onset of coronavirus, when spending at these stores was in decline."
There were signs, however, that the high street’s recovery may be a long one as over half (56 per cent) of consumers continue to avoid the shops. Three in 10 (31 per cent) Brits admit to delaying shopping because they are afraid of getting or spreading coronavirus, while 18 per cent say they are put off by crowds. New social distancing rules are providing some reassurance, with nearly a fifth (18 per cent) more likely to return to shops because of these precautions.
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