Responding to the latest ONS Retail Sales Index
figures, which showed 10.0% year-on-year sales growth in
January (value, non-seasonally adjusted retail sales excluding
fuel: J3L2), Helen Dickinson, Chief Executive of the British
Retail Consortium, said:
“Sales growth fell slightly in February as rising concerns about
inflation appeared to dampen consumer appetites. Stronger sales
results could be seen for clothing and footwear, while food spend
remained down on last year for the second consecutive month.
Online sales fell as compared to last year, when the country was
in its third lockdown, as more people returned to the shops.
Nonetheless, as competition for limited consumer spend increases,
retailers must continue to invest in their physical and digital
offerings.”
“Consumers face a rocky road ahead, with rises in the energy
price cap and NI contributions both coming next week. Meanwhile
confidence has been knocked by the continued rise in inflation,
as well as the uncertainty created by the situation in Ukraine.
While the Chancellor’s Spring Statement offered some relief for
consumers, rising inflation and next week’s rise in the energy
price cap mean that real discretionary incomes are likely to fall
in the coming months, as the cost of living soars.”
-ENDS-
All changes are year-on-year, are non-seasonally adjusted, and
are not adjusted for inflation (6.2% in February
according to CPI)
· All retailing, Excluding
Automotive fuel, All businesses (J3L2): 10.0%
· All retailing,
Excluding Automotive fuel, Large businesses (J3L3): 8.5%
· Predominantly Food
Stores, All Businesses (EAIA): -2.2%
· Predominantly
Non-food Stores, All Businesses (EAIB): 36.1%
· Internet sales, all retail
growth (KP3T): -16.9%
· Online penetration
rate for all retail (J4MC): 27.6%
