Posted 5th September

Retail sales take a downturn in August

5th September 2019 - 07:00am
money matters, brc, british retail consortium, kpmg, retail, sales, monitor, furniture, non-food, household, appliance, kbb, kbbdaily

Retail sales in the UK declined by 0.5% on a like-for-like basis in August 2018, a marked decline from the 0.1% increase seen in July, according to the latest British Retail Consortium – BRC – KPMG Retail Sales Monitor.

Non-food retail sales decreased by 1.2% on a like-for-like basis over the three months to August, while in-store sales fell by 3% on a like-for-like basis. Online sales of non-food products grew by 2.2% last month – a drop from the 7.5% growth seen in August last year.

The household appliances category sales saw a rise in like-for-like sales last month, while furniture sales dropped. “Greater economic and political uncertainty has driven down consumer demand,” said BRC CEO Helen Dickinson.

“Summer discounting and poor footfall have hit in-store sales particularly hard. If the Government wants to avoid seeing further store closures and job losses on the UK high street, they must take action.”

KPMG UK retail head Paul Martin added: “August proved to be yet another incredibly disappointing month for retail, with like-for-like sales down 0.5% and total sales flat-lining at zero. It’s clear that for much of the retail market, efforts are being focussed on preservation, not growth, in this adverse and uncertain climate.”

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