UK's retail sales see slight rise in May 2024: BRC

Non-food sales decreased 2.4 per cent year on year over the three-months to May, against a growth of 0.7 per cent in May 2023. This is steeper than the 12-month average decline of 1.7 per cent. For the month of May, Non-food was in decline year-on-year.

In-store non-food sales over the three months to May decreased 2.7 per cent year on year, against a growth of 2.9 per cent in May 2023. This is below the 12-month average decline of 1.1 per cent, as per BRC.

Online non-food sales increased by 1.5 per cent year on year in May, against an average decline of 3.0 per cent in May 2023. This was above the 3-month and 12-month average declines of 1.8 per cent and 2.6 per cent respectively.

The online penetration rate (the proportion of non-food items bought online) increased to 36.7 per cent in May from 35.9 per cent in May 2023. This was slightly higher than the 12-month average of 36.1 per cent.

“Despite a strong bank holiday weekend for retailers, minimal improvement to weather across most of May meant only a modest rebound in retail sales last month. Although non-food sales fell over the course of the month, the long weekend did see clothing sales. Retailers remain optimistic that major events such as the Euros and the Olympics will bolster consumer confidence this summer,” said Helen Dickinson OBE, chief executive of the British Retail Consortium.

“Whilst May’s figures show barely positive increases in retail sales, with less than one percent growth year-on-year, the impact of falling CPI - which means volumes are not declining as quickly, may help to soften the blow for hard-working retailers,” said Linda Ellett, UK head of consumer, retail and leisure.

Fibre2Fashion News Desk (DP)