Retail sales rise at record pace as restrictions ease and shoppers flock to stores Business News

Retail sales have grown at a record pace in the past three months as foreclosure restrictions eased and shoppers returned to main streets, according to the latest industry data.

Total sales rose 10.4% in the three months to June, according to the latest monitor from the British Retail Consortium (BRC).

Research also indicated that the recovery accelerated in June, with spending increasing 13.1%.

Restrictions on overseas travel mean many people have spent more on “stays” at home or used the money they would have spent on vacations for other purchases, the BRC said.

BRC chief executive, Helen Dickinson, said sales were driven by growing confidence and the “continued rampage” in consumer demand.

“The second quarter of 2021 has seen exceptional growth, as the gradual unlocking of the UK economy has encouraged a release of pent-up demand accumulated during previous lockdowns,” Ms Dickinson said.

Fashion and shoes worked well as the sun shone in the first half of June, while the start of Euro 2020 gave TVs, snacks and beer a boost. “

Non-food stores, such as fashion and housewares stores, saw their comparable sales increase by 47% in the last quarter, while food sales increased by 7.9%.

The data came as Boris Johnson confirmed the lockdown measures will end on July 19, but warned that “we cannot just come back to life as it was before Covid”.

While retailers are expected to see a new boost in the coming months as households spend the savings they have accumulated during the pandemic, analysts have warned the industry still faces major problems.

Paul Martin, UK Retail Manager at KPMG, said: “Retailers face challenges on a number of fronts, especially in convincing consumers that it is safe to shop in-store when restrictions on wearing masks and social distancing end.

“With travel now looking to be back on the agenda for the summer and the Covid-19 government support packages slowly taking the summer boost it needs.”

Separate figures from Barclaycard showed credit card spending jumped 11.1% last month, providing further evidence of a consumer-led recovery.

Spending at pubs was particularly strong, increasing 38.1 percent.

Raheel Ahmed, Head of Consumer Products at Barclaycard, said: “In June, Britons flocked to pubs, bars and beer gardens to watch football and tennis on the big screen as the heatwave of the start of the months has encouraged many of us to get out in the sun and socialize.

“The start of the Olympics and the expected easing of restrictions later this month should continue to boost morale and provide more opportunities to get together, whether it’s a weekend, dining out or celebrating sporting victories.

“It’s great to see the British make up for lost time over the past year.”

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This notice was published: 2021-07-13 05:45:34

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