Warm Weather And Inflation Drive Up Retail Sales But Volumes Fall
Namnews, 9th August 2022 Latest figures from the BRC and KPMG show total retail sales in the UK increased 2.3% in July, against a rise of 6.4% the year before. Trading was boosted sales of hot weather essentials, although growth was largely driven by inflation and masked a drop in volumes. On a like-for-like basis, sales grew 1.6% from July 2021, when they had risen 4.7%. Over the three months to July, food sales were up 2.3% on a total basis and 1.8% like-for-like, which was above the 12-month total average growth of 0.6%. Meanwhile, non-food sales fell by 2.0% on a total basis and 2.5% like-for-like, which was down on the average growth of 4.5% over the past year. In-store sales of non-food items increased 2% on a total basis and 1.2% like-for-like, while online non-food was down 3.9% in July. Helen Dickinson, Chief Executive of the BRC, noted that the heatwave last month had boosted sales of items such as summer clothing, picnic treats, and electric fans. However, with inflation at ...