UK retail sales inched up 0.8% on a like-for-like-basis in October, as consumer confidence took a pause, the BRC said today.
The latest sales monitor stats from the BRC and KPMG showed total sales were up 2.6% in October, while the three-month average for total sales was 2.7%.
Food sales over the last three months grew at 2%, below recent levels of inflation – an indication of shrinking volumes, the BRC said.
Meanwhile, online sales of non-food products grew by 12.1% year on year. Online now accounts for 18.3% of all non-food sales.
“Consumer confidence paused in October, and while conditions remain challenging, the signs are that customers are managing their budgets well while allowing some leeway for occasional treats,” said BRC director general Helen Dickinson.
‘Slog’
David McCorquodale, head of retail at KPMG, added: “October was another difficult month for retailers reminding us that recovery is a slow, relentless slog. Whilst the summer months hinted at increased consumer confidence, retailers will struggle to maintain a sustained sales recovery until wage growth outpaces price inflation.”
“October’s total food and drink sales were moderately up compared to last year, with sales in the first half boosted by warm weather,” said Joanne Denney-Finch, CEO of IGD.
“While shoppers remain cautious, they’re prepared to put the effort in to secure the best deals. Six in 10 (58%) intend to shop around more this year than last to find the best deals at Christmas.”
Last week, the CBI suggested that high-street sales had “stalled” in October, with grocers reporting a 17% fall in sales volumes.
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