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Retail sales edge higher due to warm weather and Euros

Published 06/08/2024, 08:44
Updated 06/08/2024, 09:10
© Reuters.  Retail sales edge higher due to warm weather and Euros

Proactive Investors - Britain saw retail sales rise ahead of its three-month average during July, but slowed when compared to 2023's rises.

Sales for last month increased by 0.5% when compared with 2023, and against a growth of 1.5% a year prior, new data from the British Retail Consortium found.

This lift was above the 0.3% average rise seen in the last three months, highlighting the help from events like the Euros final and Taylor Swifts tour as well as a spell of warm weather.

"A busy summer of televised sport has played a beneficial role in increasing TV, mobile and tablet sales over the last two months, but there’s little evidence of other big ticket purchases taking place," said Linda Ellett at KPMG.

Helen Dickinson, chief executive of BRC added: "The late arrival of British sunshine led to a better month for summer clothing and health & beauty products as shoppers prepared for days out with friends and holidays away.

"However, as consumers spent on holidays and entertainment, sales of indoor goods, such as furniture and household appliances, were squeezed out. This left non-food once again in negative growth, particularly for in-store sales."

In the three months to July, food sales lifted by 2.6% year-on-year, compared to growth in 2023 of 8.4%, with the 2024 figure below the 12-month average of 5.3%.

Read more on Proactive Investors UK

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