Tarlok Teji, head of retail at Deloitte, comments on the added significance of this year's May Bank Holidays to UK retailers. 

"May is traditionally a good month for retail.  The two Bank Holiday weekends provide additional dates when consumers can head for the high street and certain sectors, particularly DIY, Homeware and Gardening tend to fare well.  However, UK retailers have cause to be slightly nervous as we head into the first of the Holiday weekends.”

The economic outlook is uncertain and a number of pressures are exerting themselves on consumers spending power.  Food prices have been increasing for the last 12 months or so and energy prices continue to rise.  This week’s announcement that house prices in the UK have fallen year on year for the first time in over a decade could also contribute to a tightening of belts.

“It wouldn't come as a surprise if we see more retailers than usual putting up the 'Sale' signs this May,” added Teji.  “Retailers plan months in advance.  Stock will have been ordered and will now be in the stores waiting for the customers to arrive.  Retailers need to shift product and big bargains could be available over the coming Bank Holiday weekends."

Ends

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