Retail sales volumes were up 2.9% across most sectors in May, following a fall of 1.8% in April, according to the latest Office for National Statistics (ONS) retail sales data.
The latest retail sales data shows that fashion and furniture retailers rebounded during the month after poor and unseasonable weather in April.
Compared to the three months prior, sales volumes increase by 1% for the three months to May 2024, despite falling 0.2% compared to the same period last year.
The ONS reported that there was strong growth for clothing and footwear, furniture, sports equipment, games and toy retailers during the month and credited this to better weather, greater footfall and “the impact of promotions”.
This comes as non-food store sales volume increased by 3.5%, marking the largest month rise since April, 2021, and following a 3% decline last month for the category.
The amount spent online in May was up by 5.4% and jumped by 4.1% over the year as a whole.
Deloitte head of retail Oliver Vernon-Harcourt attributed the bounce back to the warmer weather, the double bank holidays and the start of the big summer of sport as the Euros kicked off.
“A double bank holiday in May boosted the retail sector, which saw its first retail sales volume growth since January. The tide could be finally turning for retailers, with more consumers releasing their purse strings and spending on discretionary items such as clothing and furniture. There are signs that certain recessionary behaviours are easing, as non-food store sales saw the largest volume rise since April 2021.
“The summer of sport has kicked off, and with warmer days upon us, the retail sector will be hoping to see spending momentum continue. Consumers are feeling more confident about their disposable income, but the next step for retail recovery will be seeing this translate into sustained levels of spending.”
https://www.retail-week.com/customer/retail-sales-bounced-back-in-may-says-ons/7046481.article