Responding to the latest ONS Retail Sales Index
figures, which showed sales up 5.2% by value, and up
0.7% by volume, Kris Hamer, Director of Insight at the British
Retail Consortium, said:
“There was promising news as sales volumes rose for the second
time in three months, following 19 prior months of decline. This
reflected rising levels of consumer confidence, as well as a
boost from the January
sales. Categories, such
as computing, and cosmetic & toiletries performed well. Food
sales continued to outstrip non-food sales – mainly due to higher
levels of inflation on these products. Nonetheless, shoppers
remained cautious as they entered the third year of the high cost
of living.
“Retail plays a vital role in unlocking household spending and
boosting economic growth across the UK. As the everywhere
economy, retail serves all of us, providing the things we need as
well as local jobs and investment. It is vital that our future
Government recognises the importance of retail considering the
cumulative cost burden created by new and existing policies.
Business rates’ rises, inadequate recycling proposals, new border
control costs; only by addressing these issues can the next
Government unlock further investment for the country and boost
local and national economic growth.”
-ENDS-
According to the ONS, on a
Year-on-year seasonally adjusted basis:
-
Sales by Value (amount
spent) increased 5.2% YoY (this growth is
primarily due to rising prices)
-
Sales by Volume (quantity
bought) increased 0.7% YoY
