Sales on the high street have plunged at the fastest pace in 24 years, prompting fresh fears of store closures and putting retail jobs at risk.
Looking at the contrast from this time last year – May 2018 offered the public with events such as The Royal Wedding and The World Cup. However this year, their is political uncertainty surrounding Brexit, which has had a direct effect on consumer spending and the economy as a whole.
Paul Martin, UK Head of Retail at KPMG – said that even growth in online sales was slower than usual. He added: ‘The extremely low growth online is real cause for concern, especially with almost a third of all non-food sales today being made online. This trend has continued to manifest itself over the last year and requires real focus from the retail community.’
