Friday, October 18, 2024

Retail sales edge higher as new iPhone launch boosts tech stores

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British retailers saw sales growth slow last month despite being boosted by strong demand from shoppers for new tech, according to official figures.

Technology and telecommunication retailers saw sales surge by more than a third as they were buoyed by new product launches, including Apple’s new iPhone 16.

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.

However, the latest reading was stronger than expected, with a consensus of economists predicting a marginal fall for September.

ONS senior statistician Hannah Finselbach said: “Retail sales grew in September as tech stores reported a notable rise in sales.

“These were only partially offset by a poor month for supermarkets, where retailers said bad weather and households continuing to cut back on luxury food items hit sales.

“Looking at the broader picture retail sales increased across the third quarter as a whole, with growth seen from all main shop types.”

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