Data from the latest BRC-KPMG Retail Sales Monitor for May 2024, show that UK Total retail sales showed signs of recovery in May. These sales increased by 0.7% year-on-year, compared with May, 2023.
These growth figures were above the 3-month average growth of 0.3% and below the 12-month average growth of 2.0%. Over the three-month period to May, non-Food sales dropped by 2.4% (year on year).
While sales growth has been minimal, signs of recovery should encourage retailers to continue to maintain their pricing, stock and cost base.
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Helen Dickinson OBE, Chief Executive of the British Retail Consortium, says: 'Although non-food sales fell over the course of the month, growth in computing sales reached their highest levels since the pandemic, with many consumers continuing to upgrade tech bought during that period. Retailers remain optimistic that major events such as the Euros and the Olympics will bolster consumer confidence this summer.'
Source: www.bigfurnituregroup.com
