BRC news and archive

Fashion sales take ‘biggest hit’ in October despite increases elsewhere

For the four weeks spanning September 29 to October 27, the British Retail Consortium (BRC) reported a “disappointing” retail sales growth of just 0.6 percent year-on-year, against a growth of 2.6 percent in October 2023. This was below the three-month average growth of 1.3 percent and the 12-month average growth of 1 percent, and came despite a...

BusinessFeatured

‘Tale of two halves’: Industry reacts to ‘damaging’ Autumn Budget

The Autumn Budget, the first to have been issued by Labour in 13 years, has received mixed reactions from industry insiders and experts alike, with a 40 billion pound uptick in taxes being at the centre of discussion. On Wednesday, Chancellor Rachel Reeves unveiled the budget via a lengthy speech in which she noted that she did “not take this...

Business

Shop prices fall in October, fashion sales ‘turning a corner’

New figures have shown a drop in shop prices for the beginning of October, with deflation sitting at 0.8 percent, down from deflation of 0.6 percent in the previous month. According to the British Retail Consortium (BRC), which tracked its data from October 1 to 7, this latest figure also came below the three-month average rate of -0.6 percent,...

Retail

Back-to-school shopping helps boost UK retail sales

Retail sales in the UK saw a welcomed boost for the five weeks to September 28, as back-to-school shopping and autumn clothing demand helped bump figures up. For the month, total sales rose 2 percent year-on-year, against a growth of 2.7 percent in the same period last year. This was above the three month average growth of 1.2 percent the...

Business

Over 70 retail bosses urge chancellor to cut UK business rates

More than 70 UK retailers have called on chancellor Rachel Reeves to cut business rates by 20 percent as part of a push to introduce a ‘Retail Rates Corrector’ in order to help “level the playing field”. The bosses of the companies, including those of Marks & Spencer, Primark and Tesco, co-signed an open letter coordinated by the British Retail...

Retail

UK footfall up in September as weather improves

Footfall in the UK rose for the first time in over a year in September, increasing 3.3 percent year-over-year and up from -0.4 percent in the month prior. Helen Dickinson, chief executive of the British Retail Consortium (BRC), which published the data with Sensormatic, credited the uptick to “mild temperatures” that she said had left retailers...

Retail

Five retail leaders respond to ONS August sales data

UK retail sales showed unexpected strength in August, driven by warmer weather and end-of-season discounts, according to the latest figures from the Office for National Statistics. The data revealed a 2.4 percent increase in sales by value and a 2.3 percent rise by volume, according to the British Retail Consortium (BRC), surpassing economists'...

Business

Overtaxed retail sector presents ‘golden opportunity’ to deliver government policies

New research by the British Retail Consortium (BRC) has found that the UK’s retail sector has been “overtaxed” compared to others, presenting a potential opportunity for the government to fix such discrepancies and help deliver on policies. This is according to BRC chief executive Helen Dickinson, who said that this latest research proved “what...

Retail

UK retail sales show modest growth amid summer spending

Retail sales in the UK saw a slight uptick in August, driven by summer-related purchases, according to the latest BRC-KPMG Retail Sales Monitor. Total retail sales increased by 1 percent year-on-year, outpacing the three-month average growth of 0.4% but falling short of the 12-month average of 1.2 percent. Non-food sales, which includes fashion,...

Retail

UK shop prices enter deflation for first time since 2021

In a significant shift for the UK retail sector, shop prices have entered deflation for the first time in almost three years, according to the latest data from the British Retail Consortium (BRC). The Shop Price Index for August 2024 showed a 0.3 percent decline, reversing the 0.2 percent inflation recorded n July. This unexpected turn towards...

Business

Shop prices enter deflation for first time in almost three years

Shop prices have entered deflation for what is reportedly the first time in nearly three years, new figures collated by the British Retail Consortium (BRC) and NielsenIQ have shown. For the period August 1 to 7, shop price deflation came in at 0.3 percent, down from inflation of 0.2 percent in the previous month. This was also below the...

Business

UK inflation edges up in July for first time this year

After a promising few months of falling inflation in the UK, it appears that such an outcome wasn’t able to extend into July 2024, with headline inflation once again rising to 2.2 percent. This is according to the latest CPI figures, collected by the Office of National Statistics (ONS), which showed that, despite food inflation remaining...