The office for National Statistics has reported retail sales figures in Great Britain for February: Retail sales volumes are estimated to have increased by 1.2% in February 2023 following a revised rise of 0.9% in January. Year-on-year sales fell 3.5%, better than the expected decline of 4.7%. Total non-food stores sales volumes (department, clothing, household […]
Responding to the latest ONS Labour Market figures, which show 3.12m jobs in retail in Q4 2022, down 14,000 year-on-year, Helen Dickinson, chief executive of the British Retail Consortium, said: “Low consumer confidence and falling sales volumes meant many retailers were more cautious in hiring additional workers in the run up to Christmas. This was compounded […]
January blues seeped into February, as UK online sales recorded yet another decline in revenue (every month since May 2021 has recorded a decline except November 2022 which was flat). The total market saw a -4.1% Year-on-Year (YoY) decline, which is all the more disappointing as it was building on a YoY decline of -27.6% […]
Sales figures are not adjusted for inflation. Given that both the February SPI (BRC) and January CPI (ONS) show inflation running at historically record levels, the rise in sales masked a much larger drop in volumes once inflation is accounted for. Covering the four weeks 29 January – 25 February 2023 UK Total retail sales […]
Period Covered: 01 – 07 February 2023 Shop Price annual inflation accelerated to 8.4% in February, up from 8.0% in January. This is above the 3-month average rate of 7.8%. This brings shop price growth to a fresh high. Non-Food inflation accelerated to 5.3% in February, up from 5.1% in January. This is above the […]
We have now reverted to using Year-on-Year (YoY) footfall change. We will still provide a comparison to pre-pandemic levels (Yo4Y) in the first table (and last bullet) for continuity. Covering the four weeks 29 January – 25 February 2023 According to WRC-Sensormatic IQ data: Welsh footfall increased by 14.9% in February (YoY), 0.3 percentage points […]
Grocery price inflation rose again to reach 17.1% in the four weeks to 19 February 2023, the highest level ever recorded by Kantar Aldi pushes its market share to a new record, hitting 9.4% Ocado losses push to -£74m as cost-of-living crisis bites Sophie Lund-Yates, lead equity analyst at Hargreaves Lansdown: “Ocado Retail has seen […]
New research by Santander UK1 reveals the impacts of the rising cost of living on retail SMEs (small-medium sized enterprises) and the efforts they are making to keep afloat – and support their local communities through the current economic challenges. Almost two-thirds (65%) of UK retail business owners report that the rising cost of living […]
January retail sales were announced today: Retail sales, Great Britain – Office for National Statistics (ons.gov.uk) Sarah Coles, head of personal finance, Hargreaves Lansdown: “January sales tempted even the most squeezed shoppers, as deals pushed overall retail sales up 0.5%. Things looked even healthier for non-food stores – up 0.6%, department stores – up 0.8%, […]
Retail finance products such as BNPL and digital credit are in high customer demand, but what options are best suited to your business? The sustained rise of flexible payment types, which continue to erode the market dominance of traditional options like debit and credit cards, is mirroring the changing demands of consumers, helping them to […]
