Connecting to LinkedIn...

Retail sales up 1.8% year-on-year

W1siziisijiwmtuvmdmvmjmvmtuvmjgvmzyvnzi0l2zpbguixsxbinailcj0ahvtyiisijywmhg0mdbcdtawm2uixv0

Retail sales continued to show growth last month, rising 1.8 per cent compared with the same period last year.

The results were driven by non-food stores and non-food retailing which increased by 2.7 per cent and 16.3 per cent. Food stores and petrol stations saw sales falls of 0.3 per cent and 2.4 per cent.

But jewellery and watch stores registered a rise in sales, as did DIY and clothing stores, but music and video stores saw a fall. Floor coverings rose 25.3 per cent y-o-y and flowers, plants, seeds and petfoods rose 27 per cent.

Overall sales volumes fell 0.7 per cent in October in figures that were affected by changeable weather.

Ian Geddes, UK head of retail at Deloitte explained: “October’s small month-on-month decline will have been partly driven by the mild weather conditions. It is not that consumers don’t want to shop, or retailers haven’t got the right product lines– it is that these products are geared to winter and so shops are waiting for the cold snap to arrive.”

The figures, which are based on a monthly survey of 5,000 retailers including all large retailers employing 100 people or more, showed the proportion of online sales rose 1.1 per cent compared with October 2012 and made up 10.5 per cent of all retail sales. Online specific promotions were attributed to contributing to the growth.

“The year on year increase revealed today is a positive result, said Richard Lowe, Head of Retail & Wholesale at Barclays. “Retailers are now firmly focused on delivering a bumper Christmas, which is expected to be “very Appy” as festive shoppers are predicted to spend more than ever using their mobile devices.”

Published on Thursday 14 November by Editorial Assistant

Articles similar to retail

Articles similar to Business

comments powered by Disqus