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.