Retail sales jump by modest 0.8 per cent in October
UK retail sales rose in October, ending a five-month run of falling or flatlining sales, according to official figures.
The Office for National Statistics (ONS) said retail sales volumes rose by 0.8 per cent last month compared to September, following no movement between September and August.
The ONS said non-food stores were the only main retail sector to see a rise in sales volumes in the last month – up 4.2 per cent – with second-hand stores, toy stores and sports equipment stores particularly strong.
Clothing stores sales volumes in October were only 0.5% below pre-pandemic levels in February 2020, with retailers suggesting early Christmas trading had boosted sales, the ONS added.
Following the release of the ONS retail sales data this morning, Erin Brookes, European Retail and Consumer Practice at consultancy Alvarez & Marsal, commented that “sales have increased in this period, likely driven in part by early discounting, with many retailers carefully planning promotions to avoid a rush on peak days such as Black Friday.
Brookes told City PM this morning: “With all eyes on Black Friday, it may not be the spectacle we have seen in previous years, especially as shoppers concerned about inflation and looking to tighten their purse strings are likely to hold back on purchasing those big ticket items such as TVs that are synonymous with the event.”