Published on August 17th, 2015 | by The GC Team0
Housing market boosts July retail sales
Like-for-like retail sales increased 1.2% and 2.2% on a total basis in July, supported by a robust housing market.
According to the BRC-KPMG Retail Sales Monitor, non-food sales grew 3.7% against a 1.3% rise in July 2014, while total food sales fell for the first time this year.
Online sales of non-food products grew 14.7%, increasing the online penetration rate for the category from 16.5% in July last year to 17.6%.
“Despite 27 consecutive months of falling shop prices it seems that consumers remain content to budget carefully on their necessary food outlay and spend that little bit more on purchases they have perhaps deferred,” commented Helen Dickinson, Director General of the British Retail Consortium.
David McCorquodale, Head of Retail at KPMG, said: “Retail sales remained positive in July as improved consumer confidence is slowly winding its way to the tills.
“Looking ahead, retailers will be hoping more summer sunshine coupled with confirmation that interest rates will stay at 0.5% will keep consumer confidence riding high into August.”