Does a marginal loss equal a big win?
It could in this case.
The Australian Retail Index is recording the lowest drop in four years during the Easter period for fashion retailers.
The index is powered by audit, tax and advisory firm BDO who have revealed that apparel sales slumped just 1.28 per cent in the week before easter 2015.
Sales in the previous four years had plummeted up to 10 per cent.
The rest of the retail sector has been hit hard with declining sales, with a drop of 5 per cent the week before Easter and a dismal 15 per cent the following week.
BDO national retail lead partner Simon Scalzo believes that despite the slump, retailers shouldn't be concerned.
“The drops followed gains across February and March, and are typical of Easter sales patterns with retailers being affected by two public holidays and the short school holiday period.”
Big spending on other items such as a furniture have been attributed to the loss in other areas of the sector.
Scalzo has also noted a change in consumer behaviour during the period.
“While sector-wide, pre-Easter sales fared better than in previous years, the post-Easter week saw a significant drop from 2012-2014 levels.”
There is a silver lining for most retailers in the lead up to Mother's Day, although if history repeats itself fashion and accessories are set to pip the rest to the post.
“In the week leading up to Mother’s Day 2014, fashion and accessories sales jumped more than 21 per cent and other general retail about 20 per cent. Overall that week saw sector-wide sales up almost 15 per cent, with 2013 sales about 13 per cent higher.”