Retail sales volumes in Great Britain increased by 0.9% in June after a decrease of 2.7% in May, though still underperformed compared to the expected 1.2% rise. Non-food store sales fell by 1.5%, while food sales saw a slight increase of 0.7% after a significant drop of 5% in May, with clothing sales also up by 1%. Analysts noted that the warm weather aided sales, particularly in food and drink sectors, yet concerns about consumer spending power remained due to wage stagnation and rising inflation.
Retail sales recovered some ground in June following a slump in May with the weather reportedly coming to the rescue of retailers once again. Sales volumes rose across most sectors, with department stores and clothing retailers showing particular strength.
Despite the rebound seen in June, the latest data is weaker than had been anticipated. The sharp fall in May and underwhelming recovery in June suggest that the consumer isn't in a position of strength.
June's heatwave didn't just bring out the sunshine - it brought shoppers to the tills. Father's Day, picnics, and sporting events, all helped to see retail sales increase by 0.9%.
Retailers are operating in a climate where sentiment and spending no longer move in step. Shoppers are increasingly unpredictable.
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