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Retail sales up by just 0.1% in October

UK retail sales edged up by just 0.1% year-on-year on a like-for-like basis in October as shoppers looked forward to the discounts offered during the upcoming… View Article

GENERAL MERCHANDISE

Retail sales up by just 0.1% in October

UK retail sales edged up by just 0.1% year-on-year on a like-for-like basis in October as shoppers looked forward to the discounts offered during the upcoming Black Friday period.

The figures from the British Retail Consortium and KPMG retail sales monitor also reveal that total sales increased by 1.3%.

During the three months to October, non-food retail sales fell by 1% on a like-for-like basis and rose by 0.1% on a total basis.

Meanwhile, the same period saw food sales climb by 1.2% on a like-for-like basis and by 2.3% on a total basis.

In addition, in-store sales of non-food items declined by 2% on a total basis and by 3.3% on a like-for-like basis.

Paul Martin, head of retail at KPMG, said: “October kicks off the all-important golden quarter, with some retailers earning the majority of their annual profits in these months alone. But with October’s like-for-like sales flat lining at 0.1%, it was a bit of a non-starter.

“Demand was mainly dampened by continued economic uncertainty, as well as the anticipation for the deep discounting ahead – especially now that Black Friday weekend has become such a permanent feature.”

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