Solid February sales despite gloomy weather
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.”