Retail sales growth slows but beats expectations
British retailers saw sales growth slow in September, despite a “positive month” for department stores, according to official figures.
Total retail sales volumes, which measure the quantity bought, rose by 0.3% in September, the Office for National Statistics (ONS) said.
It comes after retailers witnessed 1% growth in the previous month.
Retail sales rose 0.3% in September 2024, following a rise of 1.0% in August 2024.
Computers and telecoms stores grew strongly but were partly offset by falls in supermarkets.
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— Office for National Statistics (ONS) (@ONS) October 18, 2024
However, the latest reading was stronger than expected, with a consensus of economists predicting a marginal fall for September.
The Office for National Statistics revealed that non-food stores, which range from clothing to tech, saw sales volumes rise by 2.5% in September, improving from a 0.6% rise in the previous month.
The firm said this was significantly driven by technology and telecoms shops, which saw sales volumes surge by 34.7% for the month.
It was also a positive month for department stores, which reported a 1.9% increase for the month. However, food stores saw sales volumes slide by 1.9% for the month, driven by supermarkets.
Lisa Hooker, Leader of Industry for Consumer Markets at PwC UK, said: “It would have been a tall order to repeat August’s improvement in retail sales, and, sure enough, September’s results slowed slightly.”
