UK consumer spending and footfall were impacted by storms and coronavirus fears last month. Spending actually grew by 2.2% year-on-year in February, "propped up by digital subscriptions and takeaways, as people stayed at home to escape the storms and risk of contracting coronavirus," according to Barclaycard.

The UK's still-new chancellor, Rishi Sunak, delivered his first budget and went some way to meeting the demands of the retail sector. But it was felt he didn't go far enough in some areas, although the CBI called the overall budget "bold".

Directly relevant to retail, business rates for companies whose property has a rateable value of less that £51,000 have seen those rates suspended for this year.

That looks good on the surface as only a small percentage of retail properties exceed that value. But these larger businesses are responsible for the lion's share of the total amount paid in business rates and so the £51,000 threshold is likely to be bad news for under-pressure department stores such as John Lewis, Debenhams and House of Fraser.

Indeed, fears surrounding coronavirus impacted the retail sector particularly, with department stores hardest hit. They contracted 3.6% as shoppers avoided the high street. Fashion was down by less but clothing spend still dipped 1.7% as a result.

In fact, as many as 28% of Britons avoided physical shops as they worried about the possibility of being infected with the virus.

At the same time, spending on essential items rose by 1.6%, bolstered by supermarket and fuel expenditure, which grew by 1.3% and 2.5% respectively, with some irrational stockpiling being a factor in this.

Full article : Storms and virus fears dent spending and footfall in UK, clothing sales drop

Full article : UK's 'coronavirus budget' offers some relief to retail, but not enough