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March 9, 2022

BRC registers 6.7% increase in UK retail sales for February

Non-food retail sales increased by 6.9% on a like-for-like basis in the three months to February.

The British Retail Consortium (BRC) has reported that UK retail sales grew by 6.7% on a total basis last month compared with a 1.0% increase last February.

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The figure is above the three-month average growth of 6.5%, but less than the 11.3% average increase usually reported on a 12-month basis.

Retail sales increased by 2.7% last month on a like-for-like (LFL) basis from February last year.

During the month, online non-food sales declined by 28.4%, having risen by 82.2% in the same period last year.

For the three months to February, non-food retail sales in the UK increased by 12.0% on a total basis and were up by 6.9% on an LFL basis.

Food sales for the three-month period increased by 0.1% on a total basis but dropped by 0.3% on an LFL basis.

In addition, in-store sales of non-food items for this period were up by 71.2% on a total basis and 57.2% on an LFL basis.

BRC chief executive Helen Dickinson said: “February saw continued sales growth, although dampened by Storm Eunice and falling consumer confidence.

“Traditional try-before-you-buy products, like furniture and home accessories, as well as fashion and jewellery, continued to be the highflyers as more people returned to stores.

“While online sales remained down on last year, the new spending habits driven by the pandemic have settled into a new normal, particularly for non-food, with four in every ten pounds now spent online compared to three in every ten before the pandemic.

“Retail has driven five years’ of digital transformation in 24 tumultuous months. The future is looking increasingly uncertain, with current demand unlikely to be sustained.

“Consumer confidence, falling in recent months, will likely tumble further against the backdrop of the current geopolitical events.”

Last month, the BRC reported that retail footfall in the UK decreased by 17.1% in January compared with two years prior.

Free Whitepaper
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What is the impact of historically high inflation on the UK consumer landscape?

The average UK consumer is experiencing a severe cost-of living crisis as inflation surges to a forty-year high and the price of goods continues to rise. This shock is the result of the sharply increasing costs of commodities, energy, and the ongoing conflict in Ukraine, and is threatening FMCG manufacturers, retailers, and foodservice operators’ ability to survive and grow. Inflation will have a profound effect on many consumer-facing industries in 2022 and beyond. Consult GlobalData’s new whitepaper, Inflation in the UK: The Impact of Historically High Inflation on the UK Consumer Landscape, to better understand shifts in consumer behavior and their impact on spending patterns, as well as the implications for UK businesses. This whitepaper covers:  
  • Why has global inflation returned with a vengeance?
  • What is the current inflation situation in the UK?
  • What impact is inflation having on UK retail sales?
  • What tactics are businesses relying on to tackle the effects of high inflation?
  • How are consumers changing their behaviors to cope with the higher cost of living?
  • Which industry sectors are most vulnerable to reduced consumer demand?
  • How is the government responding to high inflation?
  • How long will high inflation last in the UK?
  • How can your company survive and thrive in a high inflation environment?
Enter your details here to receive your free whitepaper and ready your business for these increasingly uncertain times.
by GD50 Custom
Enter your details here to receive your free Whitepaper.