The feel-good PR agency reveals consumer sales are up by 4.5%
Lem-uhn, the feel-good PR agency, reveals that sales are up by 4.5% as consumer spending power continues to be felt despite the cost of living crisis. The latest Office for National Statistics retail sales data from March also shows that this figure has increased by 15.7% compared to February 2020. Lem-uhn believes the data suggests that UK consumers are still looking to shop however they are prioritising products that add value to their lives.
The company has also found that volume sales made a small decline of -0.9% in March compared to February. However, this number could be attributed to a natural decline following Valentine’s Day sales the previous month.
Despite the mixed picture, Lem-uhn believes that this sales momentum will continue into 2023. In particular, the feel-good PR agency expects to see traditional spikes in sales in the lead-up to gifting occasions like Christmas and Easter. The latest retail sales data also shows that there were sharp increases in sales across most categories in October 2021 and October 2022 as shoppers began to prepare for Christmas.
With the cost of living pressures expected to ease over the coming months, Lem-uhn believes that more brands will prioritise advertising and marketing spend later in the year to support increased sales. The company has recently begun to see increased interest in its PR services as more businesses look to tap into trending stories in the news to capture the attention of conscious shoppers.
Riannon Palmer, Managing Director of Lem-uhn comments: “The cost of living crisis has been scary for retailers. With it dominating public discourse, there has naturally been worry that people will spend less. However, the data shows that people are still spending. Consumers have become more conscious shoppers researching and thinking before making purchases. This means when they do spend they are spending on products that give them value, whether that be by its price or the value it brings to their lives.”