Retail Sales Dip Below Pre-COVID Levels Amid Price Hikes and Queen’s Funeral Impact

  • Retail sales volumes fell by 1.4% in September 2022 compared to pre-coronavirus levels
  • Food store sales volumes dropped by 1.8% in September 2022
  • Non-store retailing saw a 3.0% decline in September 2022
  • Non-food stores sales fell by 0.6% in September 2022
  • Automotive fuel sales dropped by 1.3% in September 2022
  • Online retailing remained at 26.4% of total sales in September 2022
  • Retailers cite rising prices and the Queen’s funeral as factors for lower sales

Retail sales volumes fell by 1.4% in September 2022, marking a decline from pre-coronavirus (Covid-19) February 2020 levels. Food store sales dropped by 1.8%, leaving them 3.2% below their pre-pandemic levels. Non-store retailing saw a 3.0% decrease in September 2022, but remained 18.0% above February 2020 levels. Non-food stores sales fell by 0.6%. Automotive fuel sales dropped by 1.3%, down 10.2% from February 2020. Online retailing maintained a steady 26.4% share in September 2022. ONS director Darren Morgan noted that retailers attribute the decline to both the Queen’s funeral and ongoing price pressures.

Factuality Level: 10
Factuality Justification: The article provides accurate and objective information based on data from a reliable source (ONS), discusses various aspects of retail sales volumes, and includes expert commentary from the ONS director.
Noise Level: 3
Noise Justification: The article provides relevant information on retail sales volumes and their comparison with pre-pandemic levels, as well as the impact of the Queen’s funeral and rising prices on consumer behavior. It also includes quotes from an ONS director to support its claims. However, it could benefit from more in-depth analysis or discussion of potential long-term trends or consequences.
Financial Relevance: Yes
Financial Markets Impacted: Retail and online businesses
Financial Rating Justification: The article discusses a decrease in retail sales volumes, which can impact the financial performance of these businesses and potentially affect their stock prices and overall market trends.
Presence Of Extreme Event: No
Nature Of Extreme Event: No
Impact Rating Of The Extreme Event: No
Extreme Rating Justification: No extreme event occurred in the last 48 hours.

Reported publicly: www.retailsector.co.uk