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Wet Weather Drains UK Shoppers, Boosts Online Sales
24 Feb
Summary
- Retail sales volumes experienced a sharp decline in February.
- Persistent wet weather discouraged shoppers from visiting physical stores.
- Online sales saw their fastest growth since April 2021.
Retail sales volumes in Britain experienced a significant drop in the year leading up to February 2026. Many retailers reported that the unusually persistent wet weather discouraged consumers from visiting physical stores.
This downturn resulted in the main sales volume balance falling to -43 in February, a notable decrease from -17 in January. Online sales, however, continued to grow, achieving their fastest pace since April 2021.
Looking ahead to March 2026, expectations for sales volumes are somewhat brighter, with the balance forecast to be -17. This indicates a less negative outlook compared to the preceding months.
Separately, the CBI's quarterly retail business optimism gauge saw a marginal increase to -34 this month, up from -35 in November, which had been the lowest reading since 2008. Concerns were heightened prior to Finance Minister Rachel Reeves' budget announcement in November.
Finance Minister Rachel Reeves is scheduled to present new growth forecasts and borrowing plans next week. While significant policy changes are not anticipated, businesses are keen to understand how the government plans to mitigate the impact of rising employment costs in the distribution sector.
