Responding to the latest ONS Retail Sales Index
figures, which showed sales
up 2.4% by value, and up 2.3% by volume, Kris Hamer, Director of
Insight at the British Retail Consortium, said:
“With summer in full swing, sales growth picked up in August.
Computing performed well as extensive summer discounting
encouraged consumers to upgrade their tech, and students
organised themselves for the new academic year. Food, cosmetics,
and fashion sales also had a good month as people hosted family
and friends for picnics and barbecues and prepared for summer
holidays and other social events. Meanwhile, furniture and
household goods failed to shine, as people opted to spend their
money on experiences instead.”
“Clearly, the high cost of living still bears down on consumers,
meaning demand may dip further when energy bills rise once again
in October. On top of difficult trading, retail faces a
disproportionate tax burden compared to other industries, holding
back investment, and contributing to a decline in shops and jobs.
Government must take decisive action in the upcoming Budget and
introduce a 20% Retail Rates Corrector - a 20% adjustment to
bills for all retail properties - to level the playing field.
This would drive economic growth and restore high streets up and
down the country.”
-ENDS-
According to the ONS, on a
Year-on-year seasonally adjusted basis:
- Sales by Value (amount spent) increased 2.4% YoY
- Sales by Volume (quantity bought) increased 2.3%
YoY
