Smart speaker sales have fallen off a cliff

Sales were down in the year to 29 April as people bought cheaper goods due to the rising cost of living.Shoppers also bought more products on credit to spread their costs.

People were also using credit if they thought it could save them money in the long-term on items like washing machines, a spokesman said.These use less energy, which was important for people as bills soared.Customers were choosing more energy-efficient products because they were aware this is better for the environment too, he added.Shares in the retailer dropped more than 7% after it said that it was wary about the prospects for consumer demand bouncing back.Struggling households have been hammered by rising prices over the past few years as food, energy and fuel costs have soared.