September Retail Sales 2007

 

UK Retail sales rose 3% on a like for like basis compared to September 06 when sales were up 2.4%.  The continued growth of retail space was once again reflected in the three month trend of growth as unchanged at 2.1% for like for like sales and 4% for total sales.

 

Real GDP quarterly growth

 

The volume of retail sales for the three months to September increased by 1.7%.  The colder end to the month helped clothing and footwear sales to pick up further from a poor July & August.  Food sales maintained August’s growth but were not as good as earlier in the year.  The average weekly value of retail sales in September was £4.9billion, 4.6% higher than September 06.

 

The latest footfall figures from the research group SSPL show that September numbers were down by 0.5% against the same month of 2006 and down by 8.9% compared with figures from August this year. While the Retail footfall index by Experian show a drop in year on year shoppers of 0.7% however they only saw a month by month decrease of 2.3%.

 

Kevin Hawkins, Director General, BRC comments: “Sales were slightly better than anticipated for two reasons – firstly, the weather gave a much-needed fillip to the clothing and footwear sectors, but secondly and more importantly, price promotions and cuts in base prices were widespread across all sectors, resulting in an unprecedented number of buying opportunities.”

 

Helen Dickinson, Head of Retail, KPMG comments: “Finally! The clothing and footwear retailers will be breathing a small sigh of relief, after a reasonable, if not delayed, start to the Autumn/Winter season. Performance across all sectors improved as the month progressed, but with overall like-for-like growth of 3%, the third quarter has underperformed compared with the first two quarters of the year. The real acid test will come in the lead up to Christmas, so there is no time for complacency - there is also no doubt that it will be challenging for many retailers, as the low growth backdrop looks set to continue. However, for the moment at least, consumer spending patterns are not being affected by the wider credit crunch issues.”

sources: www.brc.org.uk, www.statistics.co.uk, www.footfall.com, www.customercounting.com