Saturday, June 19, 2021

Sales in July strongest since 2006

Sales in July were the strongest since 2006 as the UK enjoyed another retail surge compared to last year.

Retail sales were up 3.9 per cent and online sales also grew by 7.9 per cent during the latest 12 month period, according to research from the British Retail Consortium (BRC) and KPMG.

David McCorquodale, Head of Retail at KPMG said: “July was a golden month for retail sales and marks a return to form for British retailers. Hopefully this uptick in sales is another indication that the UK economy has turned the corner towards growth.

He added: “Whilst this month‘s figures will be a relief after last year‘s washout summer saw shoppers stay at home, some of these sales were heavily driven by discounting. Whether retailers have sacrificed too much margin to drive these sales remains to be seen.”

The positive news of the British retail sector has continued as hot weather boosted sales on the high street with fashion and food sales boasting the strongest growth. Events such as the birth of a royal baby, a win at Wimbledon and victory in the Tour de France have all helped the sector.

Despite the encouraging figures, Dan Wagner, CEO of Powa Technologies, warned that relying solely on the weather for an upturn in retail sales was dangerous, “There should be a greater emphasis on innovation and a personal experience that engages more directly with consumers to deliver more activity at the tills.”

Wagner, who has helped implement payment platforms for Tesco, Superdrug, Laura Ashley and Heal‘s added: “We are seeing a major shift in the way we shop. Gone are the days where we walk around shops, picking items up, carrying them, queuing up at a till, packing them all away again, so that you can carry them around with you all day.

“New shopping models involve convenient delivery and collection methods, more enjoyable methods of browsing, and quick means of payment. We shouldn‘t be anticipating the loss of the high street, we should be anticipating its evolution.”


Please enter your comment!
Please enter your name here