// Retail sales rose 4.9% in February thanks to a surge of consumers buying gifts for Valentine’s Day
// However, total retail sales growth slowed last month as shoppers become “increasingly price sensitive” amid the cost-of-living crisis
Retailers enjoyed a boost in sales last month benefiting from consumers buying gifts for Valentine’s Day.
Like for like retail sales were up 4.9% in February, against a 2.7% increase for the same period in 2022, according to the BRC-KPMG Retail Sales Monitor.
Total retail sales grew 5.2% over the period, however, the figures are still 5.5% below the 3-month average and 2.4% less than the 12-month average.
Food sales surged 8.3% and non-food sales 3.2% over the three months to February, both above the 12-month average of 4.3% and 0.8% respectively.
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Meanwhile, online non-food sales slipped 3.1% against the sharp decline of 28.5% over the same month last year.
The proportion of non-food items bought online decreased to 38.5% last month compared to 40.3% in February 2022.
BRC chief executive Helen Dickinson said: “Retail sales held up better than expected this February, though volumes remained down on last year.
“While the cost-of-living crisis has made customers increasingly price sensitive, they are still ready to celebrate special occasions. This helped deliver strong sales of fragrance and jewellery for Valentine’s Day.
“Energy-saving appliances also continued to sell well, but the rush for warm coats and boots subsided as the January sales splurge satisfied customer appetite.”
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