Sunday, September 8, 2024

Retail sales rebound as shoppers flock to fashion and furniture stores

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A surge in shoppers returning to fashion and furniture stores contributed to a boost in retail sales last month, following a dip in April due to inclement weather, according to the latest figures from the Office for National Statistics.

The volume of goods purchased increased by 2.9 percent in May, rebounding from a 1.8 percent drop in April, with the latter figure being revised up from an initial estimate of a 2.3 percent decline.

This exceeded expectations, as some economists had predicted a more modest increase of 1.6 percent for the month.

Most sectors saw an uptick in sales volume in May compared to April, which was marred by poor weather that deterred shoppers.

Clothing retailers, furniture stores, footwear outlets, sports equipment vendors, and toy and game shops all reported strong performance, buoyed by increased footfall, favourable weather conditions, and promotional activities.

Florists also played a part in driving a 3.5 percent rise in total non-food store sales in May, a category that encompasses department stores and homeware shops.

This marked the largest monthly increase in three years, as per the ONS.

However, not all sectors fared well, with watch and jewellery retailers and second-hand goods stores among those witnessing a slight decrease in spending compared to the previous month.

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