In September 2024, UK retail sales rose by 2%, surpassing the three and twelve-month averages.
- Non-food sales showed growth year-on-year for September, although there was a decline over the three-month period.
- Online non-food sales experienced a significant increase of 3.4% year-on-year in September.
- The beginning of the school year boosted sales in children’s clothing, while adult apparel sales were driven by weather changes.
- Retailers are facing economic uncertainties as they prepare for the crucial ‘Golden Quarter’.
UK retail sales figures for September 2024 reveal a 2% year-on-year increase, as reported by the British Retail Consortium (BRC) and KPMG. This growth exceeds both the three-month average of 1.2% and the twelve-month average of 1.1%, indicating a favourable retail climate during this period.
Despite the overall positive trend, non-food sales witnessed a 0.3% decline over the three months leading up to September, compared to the previous year. However, on a monthly basis, non-food sales experienced growth year-on-year for September 2024, showcasing resilience in certain segments of the market.
Online non-food sales saw a notable uptick of 3.4% compared to the prior year, contrasting with a decline of 3.6% recorded in September 2023. This shift suggests a growing consumer preference for online shopping channels during this period.
Commentary from Helen Dickinson, the chief executive of the BRC, highlighted the seasonal influence on retail trends: “As autumn rolled out across the UK, shoppers sought to update their wardrobes with coats, boots and knitwear. The start of the month also saw a last-minute rush for computers and clothing for the new academic year.” Linda Ellett from KPMG echoed this sentiment, noting that the back-to-school season bolstered children’s clothing sales and that early autumn weather conditions accelerated sales of warm and wet-weather apparel.
Retailers are now approaching the ‘Golden Quarter’, a critical time for the sector, amidst ongoing challenges such as weak consumer confidence and high business rates. The retail industry is eagerly awaiting the Chancellor’s budget announcement, with hopes for measures such as a retail rates corrector to stimulate further investment and economic growth.
Looking forward, economic policies and seasonal trends will play pivotal roles in retail performance in the coming months.
