Retail Sales Jump Following January Discounts
Reports which have been released have revealed that that retail sales were healthier than expected in January with a 3.2% total rise – the largest since May 2008.
In the first disclosure of separate food and non-food like for like sales by the British Retail Consortium (BRC), food sales picked up by 5.5% compared to last year, after a slower December to show the best growth since June, and remained the main driver of overall sales.
Some of this growth however reflected the higher food prices we have had in recent months, the very cold weather drove sales of casserole meats and roasting joints, sausages and comfort foods, according to the BRC.
On the non-foods retail scene, sales were down 1.6% compared to last year, even with the heavy discounting in January, although analysts have singled out clothing as a “relative winner” as it experienced its smallest sales drop for several months.
Casualwear did better than formalwear, but designer ranges held up for some, while handbags, jewellery and hair accessories were popular clearance buys and knitwear, hats, scarves and gloves benefited from the very cold weather.
Electrical sales were slightly up in January compared to the month of December, yet despite this the sector continues to be viewed as weak by analysts as consumers are sticking to replacement buys rather than upgrades or switching to emerging technology.
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