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Retail sales grow in the year to April - CBI Distributive Trends Survey

26 April 2023

Year-on-year retail sales volumes grew for the first time in 2023, according to the latest CBI Distributive Trends Survey. While sales volumes rose slightly in the year to April, they are expected to fall next month.

Retailers considered sales to be good for the time of year to the greatest extent since October 2022. Sales volumes are expected to exceed seasonal norms again next month, but to a slightly lesser extent.

The survey, based on the responses of 166 respondents (including 72 retailers) found:

Retail sales volumes edged up in the year to April (weighted balance of +5% from +1% in March). Sales volumes are expected to fall at a moderate pace next month (-7%).

Retail sales for the time of year were reported as “good” (+21% from +12% in March). Sales volumes are expected to exceed seasonal norms again next month, but to a slightly lesser extent (+16%).

Internet sales grew for the first time since October 2021, with online volumes in the year to April increasing at firm pace (+28% from -26% in March). Retailers expect internet sales to grow at a broadly similar pace next month (+30%).

In addition, the latest survey data reported:

  • Retail orders placed upon suppliers were broadly unchanged in the year to April (+1% from -8% in March) but are expected to fall at a moderate pace next month (-8%).
  • Retailers considered stock volumes in April to be broadly “adequate” relative to expected sales, after twelve months of being judged as “too high” (-2% from +10% in March). Stock positions are expected to firm slightly next month (+5%).
  • Wholesale volumes grew in the year to April, but at a slower pace than last month (+13% from +18% in March). Wholesalers expect to see a slower expansion next month (+9%). Motor traders saw sales growth for the first time since June 2022, with sales in the year to April increasing at a solid pace (+30% from +0% in March). Motor traders’ volumes are expected to grow next month, but at a slightly slower pace (+23%).