Warmer May helps retail sales
Responding to the latest ONS Retail Sales Index figures, which showed sales up 2.1% by value, and up 1.2% by volume, Kris Hamer, director of insight at the British Retail Consortium, said: “The record warmth of May led to a small recovery in retail sales for the month. Larger retailers outperformed small retailers, with clothing and footwear particularly benefitting from the change in temperatures. Nonetheless, sales volumes still remain below their 2021 levels. Retailers hope that the recent start of Euro 2024 should further improve spending in snacks, alcohol, and TVs for June’s figures – and if England can win their final game and move forward to Round of 16 , it might give consumer confidence the boost it needs.
“With the election less than two weeks away, retailers look forward to working with the next government to understand how they can support an industry that unlocks over £460bn in consumer spending a year. Including the retail supply chain, the industry supports jobs for almost 20% of the workforce, meaning that improving consumer confidence and unlocking consumer spending is vital for jobs and investment right across the UK.”