BRC: Retailers hope for sales boost and fairer business rates next week

Responding to the latest ONS Retail Sales Index figures, which showed sales up 3.0% by value, and up 1.2% by volume, Dr Kris Hamer, Director of Insight at the British Retail Consortium, said:

“While ONS figures show growth in October, much of this was from a strong performance from smaller retailers. BRC members hope that Black Friday and the run up to Christmas will provide a uplift to sales, particularly when the Budget falls during peak trading season which has knocked consumer confidence. With retailers still reeling from the £7bn of additional tax, they are hopeful for a budget that ensures no store pays more in business rates so they can invest more in their stores and warehouses which bring jobs and growth for the UK economy. ”

-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 1.2% YoY