Home Breaking News Warm weather boosts retail sales growth and ‘has remained steady’

Warm weather boosts retail sales growth and ‘has remained steady’

by LLB Finance Reporter
11th Jul 23 10:51 am

Warm weather has boosted retail sales in June as people splashed out on garden furniture, barbecue food, sunscreen and swimwear.

According to the BRC-KPMG Retail Sales Monitor, total retail sales were 4.9% higher than June 2022, which was above the three month average growth of 4.6%.

Non-food sales were up 0.3% and food sales were up by 9.8% which is above the national average of 7.7%.

British Retail Consortium chief executive Helen Dickinson said, “Consumer confidence remains fragile.

“But, with headline food inflation easing for two months in a row as prices of essentials start to fall thanks to stiff competition and consumers continuing to shift shopping patterns to mitigate as much inflation as they can, confidence could improve.”

Paul Martin, UK head of retail at KPMG, said: “Apart from a blip in May, retail sales growth has remained steady at around 5% every month in the first half of this year.

“As we move into the last half the year, retailers will be hoping that anticipated falls in inflation start to deliver stronger sales growth in order to improve the overall health of the sector.

“The wild card continues to be food inflation which remain stubborn and is having a negative impact on consumers’ ability to spend on non-essential items.”

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