Posted 12th August

Retail sales remain flat in July after ‘worst June on record’

12th August 2019 - 07:00am
money matters, brc, british retail consortium, kpmg, retail, sales, monitor, furniture, non-food, household, appliance, kbb, kbbdaily

The latest British Retail Consortium – BRC – KPMG Retail Sales Monitor has reported a like-for-like rise of just 0.1% for UK retail sales in July following the “worst June on records” with a like-for-like decline of 1.6%.

Over the three months to July, non-food retail sales dropped by 2% on a like-for-like basis, while in-store sales of non-food products declined by 4% on a like-for-like basis. Online sales of non-food products grew by 3.7% last month, while the non-food online penetration rate rose to 29.8%.

“While retailers will welcome the return to growth, it has nonetheless been a punishing few months for the industry,” said BRC CEO Helen Dickinson. “The combination of slow real wage growth and Brexit uncertainty has left consumer spending languishing with the 12-month average total sales falling to a new low of just 0.5%.

“The challenging retail environment is taking its toll on many high street brands who must contend with rising import costs, a multitude of public policy costs, and ever higher business rates. A coherent strategy for retail is needed. The Government should freeze future business rates rises and fix the appeals system before embarking on a wholesale reform of this broken tax system.”

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