Responding to the latest ONS Retail Sales Index
figures, which showed sales up 2.6% by value, and up 1.2% by
volume, Kris Hamer, Director of Insight at the British Retail
Consortium, said:
“2025 got off to a good start with retail sales managing to
weather the stormy January. Retailers put on extensive
promotions, and customers who were looking to upgrade their
furniture and household electrical appliances made the most of
the many bargains that there were to be had. But, with consumer
expectations for the economy falling almost 40pts since July 2024
and an unsteady job market, the next few months are hard to
predict.
“This boost to sales barely touches the sides of the £7bn in new
costs from the Budget and packaging levy facing the industry this
year. The industry is already paying more than its fair share of
tax and with retailers already doing all they can to absorb
existing costs, retailers will be left with little choice but to
increase prices or reduce investment in jobs and shops, or both.
To mitigate this, Government must ensure that its proposed
business rates reform does not result in any shop paying higher
rates than they already do.”
-ENDS-
Notes:
According to the ONS, on a
Year-on-year seasonally adjusted basis:
- Sales by Value (amount spent)
increased 2.6% YoY
- Sales by Volume (quantity bought) increased
1.2% YoY
