According to the UK Office for National Statistics (ONS), retail sales volume (all items) fell between August and September - the first monthly fall since January 2006, reflecting decreases for non-food stores overall and the non-store retailing sector.
However, by October the volume of retail sales in the three months August-October was nominally higher than the previous three months. Analysts blamed the August-September sales dip on increases in utility (eg gas, electricity) prices, less sales discounting and higher interest rates.
Textiles, apparel and footwear sales were also among the fallers during September. Month-on-month sales rose in July, fell (revised downwards) in August but were lower again in September.
Both September and October experienced sustained mild weather, further restraining sales of clothing and footwear. Early November saw more seasonal (ie cooler) weather, which is likely to give some impetus to wool basics at retail.
There is no lack of variety on offer with young men's fashion trends weighted towards shorter pea coats and leather jackets rather than long coats.
Outerwear continues to drive premium menswear with fine and chunky knitwear styles popular. In contrast to men's fashion, women's coats have sold well with price differentials minimal this season.
Australian Wool Innovation Limited
marketing@alchempro.com
