UK retail sales volumes fall by 0.3% in Feb following 1.9% rise in Jan

Non-store retailing sales volumes fell by 4.8 per cent over the month following strong growth in December (2.7 per cent) and January (4 per cent); sales volumes were 33.2 per cent above their February 2020 levels, according to the Office of National Statistics.

Non-food stores sales volumes rose by 0.6 per cent in February 2022 with growth in clothing (13.2 per cent) and department stores (1.3 per cent), with wider socialising and the return to the office following the lifting of Plan B restrictions at the end of January potential factors.

These increases were partly offset by falls in other non-food stores (negative 7.0 per cent) and household goods stores (negative 2.5 per cent) with some retailers suggesting the stormy weather during the month had impacted footfall. 

“…Confidence has been knocked by the continued rise in inflation, as well as the uncertainty created by the situation in Ukraine. While the Chancellor’s Spring Statement offered some relief for consumers, rising inflation and next week’s rise in the energy price cap mean that real discretionary incomes are likely to fall in the coming months, as the cost of living soars,” British Retail Consortium chief executive Helen Dickinson said responding to the latest statistics.  

ALCHEMPro News Desk (DS)