UK’s retail sales volumes grow 1.2% MoM in February 2023: ONS
Retail sales volumes in the UK are estimated to have increased by 1.2 per cent month-on-month (MoM) in February 2023, following a rise of 0.9 per cent in January 2023, according to the Office for National Statistics (ONS). This is the largest monthly increase since 1.4 per cent in October 2022. The increase over the month to February 2023 returns sales volumes to February 2020 COVID-19 pandemic levels.
Despite a second consecutive rise, sales volumes were down 3.5 per cent when compared with the same month a year earlier.
Total non-food stores sales volumes (total of department, clothing, household, and other non-food stores) rose by 2.4 per cent over the month, following a rise of 1 per cent in January 2023. Despite this pickup, sales volumes fell 1.7 per cent when compared with the same month a year earlier, as per ONS. Within non-food, department store sales volumes rose by 5.5 per cent over the month, while clothing stores rose by 2.9 per cent.
Growth in both sub-sectors was because of strong sales at discount stores. Other non-food stores sales volumes rose by 1.7 per cent in February 2023, because of strong growth in second-hand goods stores, such as auction houses and charity shops. Household goods stores sales volumes fell by 0.3 per cent in February 2023.
The proportion of online sales was broadly unchanged at 25.4 per cent in February 2023 from 25.3 per cent in January 2023. The proportion of retail sales taking place online remains above the COVID-19 pandemic levels (19.8 per cent in February 2020). The proportion of retail sales taking place online for textile, clothing, and footwear stores was 24.3 per cent in February 2023 and online sales as a proportion of retail for household goods were 21.1 per cent.
Sales volumes of non-store retailing (predominantly online retailers) rose by 0.2 per cent in February 2023, following a rise of 2.9 per cent in January 2023.
Fibre2Fashion News Desk (DP)
