UK total retail sales increased by 2.0% year on year in September, against a growth of 2.7% in September 2023. This was above the 3-month average growth of 1.2% and the 12-month average growth of 1.1%.
Helen Dickinson OBE, Chief Executive of the British Retail Consortium, says, 'Retail sales saw the strongest growth in six months as non-food performed better than expected. As Autumn rolled out across the UK, shoppers sought to update their wardrobes with coats, boots and knitwear. The start of the month also saw a last-minute rush for computers and clothing for the new academic year. Ongoing concerns of consumers about the financial outlook kept demand low for big ticket items such as furniture and white goods.'
Photo: Dreamstime.
'The coming months are crucial for the economy as retailers enter the "Golden Quarter". But in the face of weak consumer confidence and the continued high burden of business rates, retailers' capacity for further investment is limited. As a result, retailers are holding their breath ahead of the Budget as they work out their investment strategies for the coming year. Decisive action from the Chancellor, such as introducing a 20% Retail Rates Corrector, would help to drive investment and economic growth up and down the country.'
More information:
BRC
www.brc.org.uk
