New figures have shown a decline in high street sales, emphasising the importance of effective
supply chain inventory strategy.
Research published by the Confederation of British Industry (CBI) has shown that 46 per cent of retailers experienced a fall in sales, compared to 31 per cent who saw them rise.
It highlighted the fact that the volume of orders placed with suppliers also fell, with 22 per cent more retailers reducing their orders than increasing them – the fastest drop since May 2010.
Judith McKenna, chair of the CBI Distributive Trades Panel and chief operating officer at Asda, said that August was a tough month on the high street.
She said: "Sales volumes fell at a pace not seen in over a year as consumers have continued to see their real incomes squeezed by a combination of inflation and weak wage growth."
Recent figures published by the British Retail Consortium showed that a rising number of high street shops are being left empty, with the national vacancy rate now standing at 11.2 per cent.
If you are interested in learning more about Inventory Management, visit our Service pages
