Q1 Business Index shows surge in March

The first quarter business index results show member revenue increased by 10% on the same period for 2016, with a surge in sales in March. The sector Q1 year-on-year rise peaks in urban areas.

The month-on-month comparisons for Q1 2017 show a moving average growth of 9%. Month-on-month growth in sector revenue was strongest in January and March. The monthly moving average for Q1 again peaks among urban members.

The 2016 index showed a sharp decline in revenue in December and during this survey members were asked their opinion as to why that was: 61% of members strongly agreed that store revenue typically declines in December each year; and 48% of members strongly agreed that the sector should promote itself more in December.

The summary review of 2016 indicates:

• Both Q1 and Q2 2016 showed 13% growth on 2015.
• The sector as a whole recorded a 10% increase year-on-year in 2016.
• The month on month increase in sector revenue was especially consistent in Q1 + Q2 2016.