Retail sales in the United Kingdom decreased 1.5% on a like-for-like basis in May 2022 from a year earlier, contracting for the third straight month, as consumers cut their spending amid the cost of living crisis. Helen Dickinson, chief executive of the BRC, said: “Sales continued to see declines as the cost-of-living crunch squeezed consumer demand. Higher value items, such as furniture and electronics, took the biggest hit as shoppers reconsidered major purchases during this difficult time. Nonetheless, fashion and beauty did well as people prepared for holidays abroad and the summer’s social calendar; with red, white and blue outfits adorning shopping carts ahead of the Jubilee weekend.” Paul Martin, UK head of retail at KPMG, added: “The rising cost of living is going to remain the main story for retailers for the immediate future, with consumer confidence a key factor to watch out for.” source: BRC - British Retail Consortium

BRC Retail Sales Monitor YoY in the United Kingdom averaged 1.93 percent from 1995 until 2022, reaching an all time high of 39.60 percent in April of 2021 and a record low of -4.90 percent in November of 2019. This page includes a chart with historical data for the United Kingdom BRC Retail Sales Monitor YoY. United Kingdom BRC Retail Sales Monitor YoY - data, historical chart, forecasts and calendar of releases - was last updated on June of 2022.

BRC Retail Sales Monitor YoY in the United Kingdom is expected to be -0.50 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. In the long-term, the United Kingdom BRC Retail Sales Monitor YoY is projected to trend around 1.90 percent in 2023 and 2.00 percent in 2024, according to our econometric models.

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United Kingdom BRC Retail Sales Monitor YoY



Related Last Previous Unit Reference
BRC Retail Sales Monitor YoY -1.50 -1.70 percent May 2022

United Kingdom BRC Retail Sales Monitor YoY
The BRC-KPMG Retail Sales Monitor measures changes in the actual value of retail sales from a sample of retailers. The Monitor measures the value of spending and hence does not adjust for price changes. If prices are rising, sales volumes will increase by less than sales values. In times of price deflation, sales volumes will increase by more than sales values. Retailers report the value of their sales and sales in the equivalent week a year ago. These figures are reported both in total and on a ‘like-for-like’ basis. The percentage increase in the value of sales on a ‘like-for-like’ basis removes the effect of the expansion of retail floor space by the retailers concerned on their sales total. Due to the sample being biased towards large retailers, the ‘like-for-like’ increase usually provides a more accurate guide to general spending patterns, though it will be biased downwards as an estimate of the growth rate for retail as a whole.
Actual Previous Highest Lowest Dates Unit Frequency
-1.50 -1.70 39.60 -4.90 1995 - 2022 percent Monthly
NSA

News Stream
UK Retail Sales Hit by Cost of Living Crunch
Retail sales in the United Kingdom decreased 1.5% on a like-for-like basis in May 2022 from a year earlier, contracting for the third straight month, as consumers cut their spending amid the cost of living crisis. Helen Dickinson, chief executive of the BRC, said: “Sales continued to see declines as the cost-of-living crunch squeezed consumer demand. Higher value items, such as furniture and electronics, took the biggest hit as shoppers reconsidered major purchases during this difficult time. Nonetheless, fashion and beauty did well as people prepared for holidays abroad and the summer’s social calendar; with red, white and blue outfits adorning shopping carts ahead of the Jubilee weekend.” Paul Martin, UK head of retail at KPMG, added: “The rising cost of living is going to remain the main story for retailers for the immediate future, with consumer confidence a key factor to watch out for.”
2022-06-06
UK Retail Sales Hit by Rising Cost of Living
Retail sales in the United Kingdom decreased 1.7% on a like-for-like basis in April 2022 from a year earlier, slowing further from a 0.4% decline in the previous month, as the rising cost of living crushed consumer confidence and put the brakes on consumer spending. “Big ticket items have been hit hardest, as consumers reigned in spending on furniture, electricals and other homeware, compounded by delays on goods coming from China,” BRC chief executive Helen Dickinson said. “Customers face a difficult year, with the Bank of England predicting inflation to reach more than 10%. Retailers are experiencing higher costs as a result of rising commodity prices, transport costs, labor shortages, delays at ports, and the war in Ukraine. Further headwinds are incoming, such as rising global food prices, which rose 13% between March and April,” she added.
2022-05-10
UK Retail Sales Fall as Consumer Confidence Sinks
Retail sales in the United Kingdom decreased 0.4% on a like-for-like basis in March 2022 from a year earlier, turning negative for the first time since October and following a 2.7% gain in the previous month. “The rising cost of living and the ongoing war in Ukraine has shaken consumer confidence, with expectations of people’s personal finances over the next 12 months reaching depths not seen since the 2008 financial crisis,” Helen Dickinson OBE, CEO of BRC, said. “Furthermore, households are yet to feel the full impact of the recent rise in energy prices and national insurance charges. There is also a potential for further supply chain disruption, with China putting key manufacturing and port cities into lockdown. Ultimately, consumers face an enormous challenge this year, and this is likely to be reflected in retail spend in the future,” she added.
2022-04-12