CHRIS GILMOUR: Furniture and household spending soars on pent-up demand
This performance in June contrasts with that of total retail, which remains in negative territory
Of the three main retail categories, being food & drugs; clothing, footwear, textiles & leather; and furniture & household, the last is by far the most discretionary, meaning that it is the most likely to be affected adversely affected during a prolonged economic downturn. This is simply because consumers can do without new furniture, whereas the others are much more essential.
Little wonder then that furniture & household spending exhibited one of the biggest slumps of any category during the level 5 lockdown period of late March and the whole of April, when only key necessity shopping was permitted. April year-on- year sales collapsed 88.4%. May recorded a profound bounce back, though year-on-year growth was still highly negative at -22.4%. ..
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