Danni Hewson, financial analyst at AJ Bell comments on the latest retail sales figures from the British Retail Consortium:
“It’s been dubbed ‘revenge shopping’ – the pent-up consumer demand, unleashed once lockdowns are over. British retailers will be hoping this revenge is a dish best served warm, at least as warm as the spring weather allows. Heading out to see friends for the first time may give us an excuse for a new ‘something’ that isn’t loungewear. Returning to the office will necessitate a new haircut. Indeed, any opportunity to travel beyond our four walls should deliver an economic shot in the arm.
“The latest BRC figures shine a light on the fact that change brings opportunity. February’s jump in sales will foster hope that the road ahead will be lucrative for non-essential retailers even if that hope is served with a side of caution. The landscape has changed rapidly over the last year. Online has become habit and habits are hard to break.”