BRC: Last of summer spending

Responding to the latest ONS Retail Sales Index figures, Helen Dickinson, Chief Executive of the British Retail Consortium, said: 

“Returning consumer confidence helped retail sales regain lost ground after a challenging July. Toiletries, cosmetics, and books performed particularly well as consumers purchased holiday essentials for their late summer getaways. Although white goods and other big-ticket items continued to take a hit as households spent more cautiously. The next few months are vital for retailers as they gear up for the all-important Christmas trading. While cost-of-living challenges continue to loom large, retailers are working hard ensuring customers get the best possible value. Their capacity to do this is limited by the upcoming rise to business rates, which will see retailers paying hundreds of millions more every year and which the Chancellor should scrap in his upcoming Autumn Statement.”

-ENDS-   

According to the ONS, on a Year-on-year seasonally adjusted basis: 

• Sales by Value (amount spent) increased 6.4% YoY (this growth is primarily due to rising prices) 
• Sales by Volume (quantity bought) fell 1.4% YoY