UK retail sales up in May

UK retail sales increased by 2.8% on a like-for-like basis in May, according to the latest retail sales monitor from BRC and KPMG.

On a total basis, sales increased 4.1% in May, against an increase of 0.2% in May 2017. This is above the 3-month and 12-month averages of 1.2% and 1.5% respectively and the highest increase since January 2014, when not including Easter distortions.

Over the three months to May, in-store sales of non-food items declined 3.0% on a total basis and 4.1% on a like-for-like basis. On a 12-month basis, the total decline was 0.2%. However, on a monthly basis, it was the best performance since January 2016, excluding Easter distortions.

Online sales of non-food products faired even better, growing 11.9% in May, against an easy comparable growth of 4.3% in May 2017. This is above the 3-month and 12-month averages of 8.8% and 8.1% respectively.

Online penetration rate increased from 21.3% in May 2017 to 22.4% in May 2018.

“While the month’s figures may paint a rosier picture, there is no room for complacency,” warned Paul Martin, head of retail at KPMG.

“The market is increasingly being split into winners and losers, with a number of legacy players continuing to face extremely challenging conditions. As such, focusing on transforming businesses both operationally and financially is pivotal.”

Subscribe to the free MI Focus newsletter to get more stories like this sent straight to your inbox.



About Laura Barnes 403 Articles
Founder/Publisher of UK musical instrument industry publication MI Focus.