Responding to the latest ONS Retail Sales Index
figures, which showed sales up 3.0% by
value, and up 2.2% by volume, Kris Hamer, Director of Insight at
the British Retail Consortium, said:
“Despite the damp, grey weather, retailers saw a solid boost to
their sales in February. Computing and household electricals
performed well as people continued to upgrade their tech.
Meanwhile, footwear and clothing struggled this month due to the
gloomy weather putting a dampener on demand. Nonetheless,
retailers are hopeful the March sunshine will boost footfall and
drive more consumer spending.
“While the rain clouds may have gone away, retailers face £7bn in
new costs in 2025. Furthermore, the uncertainty around the
Employment Rights Bill and the new business rates reform mean
that retailers are hesitant to invest in new stores and jobs.
Government must provide clarity in these policy areas as soon as
possible to allow businesses to plan accordingly. This will
ensure the retail industry is best positioned to support the
Government's growth agenda, which the Chancellor espoused in her
Spring Statement.”
-ENDS-
Notes:
According to the ONS, on a
Year-on-year seasonally adjusted basis:
- Sales by Value (amount spent)
increased 3.0% YoY
- Sales by Volume (quantity bought) increased
2.2% YoY
