UK consumers increased spending by 1.7% on a like-for-like basis last month, bringing total sales to their highest growth since January. The figures were boosted by online sales of 11% as well as high consumer confidence.
Helen Dickenson, OBE, chief executive of the British Retail Consortium, said: “October’s figures paint a more positive picture of retail sales, with an increase of 2.4 per cent on the previous year and reaching well beyond the 3-month average of 1.1 per cent. There was a more balanced contribution from all product categories, nearly all of which saw a degree of sales growth.
“Notably, fashion saw a reversal of recent fortunes, as new seasonal ranges drew shoppers in and boosted sales. Electronics too saw a strong sales resulting from new product releases and was a significant driver of the month’s performance. This was compounded by international shoppers’ spending, which has soared since July as tourists take advantage of the weak pound to buy luxury goods at bargain prices.
“It is clear from today’s figures, that despite the inflationary pressure that’s gradually building in the supply chain, retailers are currently effectively managing the additional cost burdens and continue to entice their customers with great choice and value.”
