Average retail figures fell slightly across the country last month, which the Office for National Statistics (ONS) has attributed to poor weather and uncertainty over the election.
In its June 2024 retail sales figures, the ONS revealed that retail sales volumes are estimated to have dropped by 1.2% last month. This follows an estimated rise in volume of 2.9% in May.
Looking at the broader picture at the halfway point of the year, the ONS says that sales volumes fell by roughly 0.2% over the year so far, resulting in relatively flat growth. For comparison, retail volumes are down 1.3% from their pre-Covid level, measured in February 2020.
The ONS says that retailers are suggesting several factors are behind the decrease in sales volumes, including election uncertainty, poor weather, and low footfall.
E-commerce was hit harder than bricks-and-mortar retailers, with online consumer spending falling by almost 3% (2.7%) in June. Interestingly, this figure is still a 2.3% increase over June 2023’s figure.
According to the ONS, the proportion of sales being made online decreased from 27.5% in May this year to 27.1% in June.
However, in related news, recent research from online design platform Houzz suggests that UK homeowner spending on renovation projects has “surged” over the last three years.
