Retail revenues rise in August but food sales dip

grocer - UK households are continuing to face financial strain, with living costs rising faster than wages despite a slight improvement in disposable income, reveals new data from Asda Income Tracker.
General RetailNewsSupermarkets

Retail revenues are estimated to have risen last month, but food sales took a hit.

Retail sales volumes are forecast to have increased 0.6% over July, following a 0.3% boost the month prior, according to the latest data from government department the Office for National Statistics (ONS).

However, food store revenues dropped 0.2%, while non-store retailing sales volumes were up 2.5% over the period.

Household goods sales volumes increased 0.5% during the month, as department store sales volumes dropped 1.5%.

The Oasis reunion in particular provided a boost to hotels, pubs and retailers as fans kitted out in new outfits for the headline event.


Subscribe to Grocery Gazette for free

Sign up here to get the latest grocery and food news each morning


Commenting on the data, RSM UK head of retail and ICAEW’s Retail Group chair Jacqui Baker said: “The hottest summer on record combined with sporting events, concerts including two Mancunian brothers on a comeback tour, and the usual influx of overseas visitors brought good results for the retail sector.”

“The delayed data helped to balance out some of the volatility seen in the first half of the year, but the positive trend remains intact. Retail sales have grown strongly in the last two months following the tax and tariff disruption in April.”

She added: “Despite a small dip in consumer confidence in July, overall, it appears to be ticking up. But there’s every possibility that this progress could be undone with ongoing speculation and uncertainty over tax rises in the lead up to the later than expected Budget.

“This uncertainty could be a big hit to the all-important Golden Quarter, which would be particularly damaging for the retail sector.”

The figures come after it was recently reported that retail sales were falling, according to the Confederation of British Industry,  with lower consumer confidence and sales volumes dropping over the summer.

The research found that retail sales were found to be “poor” to a higher extent at -19% compared to -10% in July.

In August, it was also reported that the spending power in UK households had been reduced as consumers dealt with the pressure of higher inflation, according to Asda’s Income Trackers.

General RetailNewsSupermarkets

Leave a Reply

Your email address will not be published. Required fields are marked *

Fill out this field
Fill out this field
Please enter a valid email address.

Retail revenues rise in August but food sales dip

grocer - UK households are continuing to face financial strain, with living costs rising faster than wages despite a slight improvement in disposable income, reveals new data from Asda Income Tracker.

Retail revenues are estimated to have risen last month, but food sales took a hit.

Retail sales volumes are forecast to have increased 0.6% over July, following a 0.3% boost the month prior, according to the latest data from government department the Office for National Statistics (ONS).

However, food store revenues dropped 0.2%, while non-store retailing sales volumes were up 2.5% over the period.

Household goods sales volumes increased 0.5% during the month, as department store sales volumes dropped 1.5%.

The Oasis reunion in particular provided a boost to hotels, pubs and retailers as fans kitted out in new outfits for the headline event.


Subscribe to Grocery Gazette for free

Sign up here to get the latest grocery and food news each morning


Commenting on the data, RSM UK head of retail and ICAEW’s Retail Group chair Jacqui Baker said: “The hottest summer on record combined with sporting events, concerts including two Mancunian brothers on a comeback tour, and the usual influx of overseas visitors brought good results for the retail sector.”

“The delayed data helped to balance out some of the volatility seen in the first half of the year, but the positive trend remains intact. Retail sales have grown strongly in the last two months following the tax and tariff disruption in April.”

She added: “Despite a small dip in consumer confidence in July, overall, it appears to be ticking up. But there’s every possibility that this progress could be undone with ongoing speculation and uncertainty over tax rises in the lead up to the later than expected Budget.

“This uncertainty could be a big hit to the all-important Golden Quarter, which would be particularly damaging for the retail sector.”

The figures come after it was recently reported that retail sales were falling, according to the Confederation of British Industry,  with lower consumer confidence and sales volumes dropping over the summer.

The research found that retail sales were found to be “poor” to a higher extent at -19% compared to -10% in July.

In August, it was also reported that the spending power in UK households had been reduced as consumers dealt with the pressure of higher inflation, according to Asda’s Income Trackers.

General RetailNewsSupermarkets

Social

SUBSCRIBE TO OUR DAILY NEWSLETTER

  • This field is for validation purposes and should be left unchanged.

Most Read

Most Read

General RetailNewsSupermarkets

Leave a Reply

Your email address will not be published. Required fields are marked *

Fill out this field
Fill out this field
Please enter a valid email address.

RELATED STORIES

Latest Feature

Menu

Please enter the verification code sent to your email: