British retail sales saw a slight increase of 1.1% in the year leading to February, according to the British Retail Consortium (BRC) and KPMG. Although this marked a decrease from January's 2.6% rise, it remained above the 12-month average of 0.8%. Highlights included a 2.3% increase in food sales and contributions from Valentine's Day spending in the jewellery and fragrance sectors. Conversely, non-food sales stagnated amid economic uncertainty. High energy costs and rising prices have made consumers cautious, leading to reduced essential spending despite improved consumer confidence.
Despite a dip from January's growth, retail sales rose 1.1% year-on-year by February due to strong online and food sales amid cautious consumer spending.
Helen Dickinson emphasized that online channels supported muted non-food sales growth, especially in computing and electronics, which reflects shifting consumer behaviors amid economic uncertainty.
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