UK retail growth continues
BRC figures suggest spending trends set for Christmas
October 14 2003
September saw UK retail sales continue to grow steadily, suggesting that UK consumers are in a pattern of spending that bodes well for the run-up to Christmas.
The British Retail Consortium-KPMG Sales Monitor for September showed a like-for-like increase in retail sales of 2.6 per cent in Septmeber, with total growth of 5.5 per cent.
Across July to September, like-for-like sales growth was 2.5 per cent, with total growth of 5.4 per cent. The BRC said sales were steadier as the weather retuned to more normal patterns after the summer heatwave, with autumn and winter clothes ranges seeing a sales boost, and back-to-school sales also good. Food and drink sales were more steady after the summer uplift, although continued good weather booste fresh food, beer and wine.
BRC director general Bill Moyes said: “This is the fourth consecutive month where like-for-like sales growth has been between 2 per cent and 3 per cent, indicating consolidation at a steady rate of growth.
“The figures for September will give retailers some reason to be cautiously optimistic in the crucial run-up to Christmas.”
Amanda Aldridge, head of retail at KPMG said: “Retailers should feel encouraged in the busy run up to Christmas following another month of steady growth. As expected, the cooler weather sent shoppers flocking to buy from this year’s autumn/winter collections, providing clothing and footwear retailers with a stronger month.
“This was balanced by a slight weakening in the food and drink arena which had benefited in previous months from the hot weather. Furniture and floorcoverings retailers are still experiencing a difficult time although there was a slight improvement this month.
“As the stores bring in their Christmas ranges there is a buzz in the high street and plenty of signs that this could be a good Christmas for retailers.”
