In the latest roundup reports from the BRC (British Retail Consortium), the organisation reports that the arrival of late summer weather rewarded the sector with a modest boost to UK retail sales in July, returning to a marginal growth.
The uplift was mainly driven increased food sales, whilst on the non-food side, summer clothing and health & beauty products saw increased demand when weather improved in the latter part of July.
The BRC’s latest Consumer Sentiment Monitor revealed an uplift in consumer confidence as they anticipate an improving economy and improved personal finances over the coming months.
Shop price inflation has fallen by 1% since the end of 2023, and food price inflation is showing continued signs of easing as it reached its lowest rate since late 2021.
On a less positive note, footfall traffic actually declined by 1 percentage point, a decline that has maintained itself twelve months in a row.
Bira CEO, Andrew Goodacre said: The BRC (British Retail Consortium) has just released its latest set of insights into the retail sector in the UK. There are no surprises, as we all know that the sector is suffering from lower footfall and lower consumer spending. The recent riots will have further damaged these two key areas for retailers. However, there is some consumer optimism returning, and hopefully, this bodes well for the remainder of the year.
Read related resources
-
Campaign Focus | High street support ahead of the Budget
High streets have been big topics over the last week. With the Budget upcoming, Bira have been discussing in Westminster how the Government can best support high streets.
-
Campaign Focus | Meeting with the Metropolitan Police
Bira was invited to meet with senior officers in the Met to discuss retail crime in the London boroughs, where police outlined ongoing plans to crack down on shop theft and dodgy shops.
-
Preventing a cyber attack and fraud as an independent business | A simple yet important checklist for retailers
Practical cyber security advice for independent retailers to protect their business, customers and data from cyber attacks and fraud.
-
The Employment Rights Act: Your handy one-page printout as an independent retail business
A one-sheet guide to key Employment Rights Act changes, practical actions for retailers and important dates employers need to know.