Retail sales pick up in January
UK retail sales saw year-on-year growth of 2.2% in January following Decemberโs report of the worst trading performance in a decade.
According to the British Retail Consortiumโs (BRC) Retail Sales Monitor, like-for-like sales saw an increase of 1.8% compared with the same month last year. Food items did well with a three-month average year-on-year rise of 2.4% while non-food items sales dropped slightly by 0.4% when compared with the same period last year.
Overall, all categories saw a three-month year-on-year average uptick of 0.8%. Despite the improved performance, the BRC said it was โlooking nervously to the futureโ as online sales continue to grow.
KPMG said fashion sales were boosted by colder weather and discounting, while an โincreased focus indoorsโ contributed to furniture sales.
Helen Dickinson OBE, chief executive of BRC, said: โThere was a welcome return to growth this month after Decemberโs disappointing sales figures. But while retail discounts helped tempt cautious consumers, there is no guarantee this momentum will continue after the sales have finished.โ
Paul Martin, UK head of retail, KPMG, added: โFollowing the worst December trading performance in a decade, January brought a welcome improvement with total retail sales up 2.2%. Having said that, this increase points more to British shoppersโ obsession of bagging a bargain and price inflation, rather than any real improvement, and these peaks and troughs continue to leave retailers feeling increasingly anxious.โ