Food Sales Drive Increase, Non-Food Sales Lag Behind

  • UK retail sales increased by 2.3% year-on-year in September
  • Food sales grew by 4.3%, higher than the 12-month average of 3.4%
  • Non-food sales rose by 0.7%, below the 12-month average of 0.9%
  • Online non-food sales increased by 1%, down from a 12-month average of 1.8%
  • Online penetration rate reached 37.6% in September
  • Inflation and potential tax changes are affecting consumer spending habits

UK retail sales rose by 2.3% year on year in September, driven primarily by food spending growth of 4.3%, according to the British Retail Consortium (BRC) KPMG Retail Sales Monitor. Non-food sales increased by 0.7%, below the 12-month average of 0.9%. Online non-food sales grew by 1% but fell short of the 12-month average of 1.8%. The online penetration rate reached 37.6%. Inflation and potential tax changes are impacting consumer spending habits.

Factuality Level: 7
Factuality Justification: The article provides accurate information on UK retail sales figures and includes quotes from experts in the field. However, there are some issues with dates (September 2024 instead of 2021 and September 2023 instead of 2022). The article also mentions the release of a new iPhone and Apple Watch, which is not accurate as they were released in 2019. These discrepancies slightly affect the overall factuality level.
Noise Level: 4
Noise Justification: The article provides relevant information on UK retail sales figures and insights from industry experts, but lacks in-depth analysis or actionable insights. It also contains some repetitive information (e.g., mentioning September 2024 twice).
Financial Relevance: Yes
Financial Markets Impacted: UK retail sales and companies in the UK retail sector
Financial Rating Justification: The article discusses the increase in UK total retail sales, food sales, and non-food sales, as well as the impact of inflation and potential changes to business rates on the industry. It also mentions the influence of the Budget announcements on consumer spending and retailers’ decisions.
Presence Of Extreme Event: No
Nature Of Extreme Event: Other
Impact Rating Of The Extreme Event: No
Extreme Rating Justification: There is no extreme event mentioned in the article.

Reported publicly: www.retailsector.co.uk