Sunny skies boost retail sales
Responding to the latest ONS Retail Sales Index figures, which showed sales up 3.5% by value, and up 1.8% by volume, Dr Kris Hamer, director of Insight at the British Retail Consortium, said: “June was a good month for much of UK retail, as the warm, sunny weather got people spending. Electric fans sold well last month as people scrambled to cool down their homes. Sales of food and drink also performed well, and while this was in part driven by rising inflation, the warmer weather and packed sports schedule also encouraged more social gatherings.
“Unfortunately, with BRC data showing consumer confidence tumbled in July, sales performance over the rest of the summer is at risk. Retailers are currently grappling with £7bn of extra costs as a result of last year’s Budget. Even this month’s sales uplift can only go so far. If the chancellor heaps further taxes on the industry at the upcoming Budget, then retailers will face little choice but to raise prices or reduce investment in shops and jobs.”