Food store sales volumes rose by 3.4% in January, recovering from December’s fall of 3.1%.
According to the latest figures from the Office for National Statistics (ONS), the increase was mainly driven by supermarkets.
ONS deputy director for surveys and economic indicators Heather Bovill told the BBC: “Sales increased across nearly all retail sectors and it was a particularly strong month for supermarkets.”
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Across non-food stores, sales volumes also rose 3% over the month following a 3.9% fall in December, which the ONS said came as a result of consumers purchasing early Christmas gifts during Black Friday sales in November.
However, it also found that 46% of surveyed adults reported plans to spend less on Christmas shopping due to the rising cost of living.
Overall, retail sales volumes rose by 3.4% in January after a record fall of 3.3% in December 2023, returning sales volumes to November 2023 levels. December’s record fall was the largest monthly fall since January 2021, when coronavirus restrictions affected sales.
Clover UK general manager Jon Boland said: “A rebound in sales during January is a significant uplift for retailers, and there are reasons to be positive over the outlook for the UK retail sector.
“Consumer confidence is rising, wages are growing, the cost of borrowing is set to drop later this year, and inflation is predicted to reduce further soon – all these factors could feed into a spending recovery over the course of 2024.”
