Furniture sales "squeezed out" in July
David Spragg • August 6, 2024
The late arrival of the Briritsh summer has switched consumer spending from furnishing and flooring to clothing and days out, says the British Retail Consortium (BRC).
The latest BRC-KPMG Retail Sales Monitor saw UK total retail sales increased by 0.5% year on year in July, against a growth of 1.5% in July 2023. But non-Food sales decreased 1.7% year on year over the three-months to July, against a decline of 0.5% in July 2023.
- Helen Dickinson OBE, Chief Executive of the British Retail Consortium, said: “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.
“Now that election uncertainty is over and Government is rolling out plans to kickstart economic growth, retailers are planning their own investment strategies," she said. "Many will be looking to the Autumn Budget, keen to see an end to business rates rises under the new Labour government. They will also be looking for any details of the reform of the whole business rates system, promised in Labour’s manifesto."
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