Non-food stores see growth, but overall sales remain below pre-pandemic levels

  • Retail sales volumes increased by 0.6% in October
  • Sales dropped 2.4% compared to the previous three months
  • Non-food stores experienced a 1.1% increase, 1.7% below pre-Covid levels
  • Online retail sales rose 1.8%, 21.2% above February 2020 levels
  • Proportion of online sales remained at 26.1% since May

October retail sales volumes increased by an estimated 0.6% according to the Office for National Statistics (ONS), following a 1.5% drop in September due to the additional bank holiday for the Queen’s funeral. However, sales over the past three months were down 2.4% compared to the previous three months, continuing a downward trend that began in summer 2021. Food stores saw a 1% decline last month, 4.1% below pre-Covid levels from February 2020. Non-food stores experienced a 1.1% increase and were only 1.7% below February 2020 levels in October. Online retail sales rose by 1.8%, now 21.2% higher than February 2020 levels. The ONS reports that the proportion of online sales has remained at 26.1% since May this year. Darren Morgan, director of economic statistics for the ONS, attributes September’s sales to the extra bank holiday.

Factuality Level: 8
Factuality Justification: The article provides accurate information from a reliable source (ONS), presents data in a clear manner, and includes relevant details about retail sales trends. However, it could benefit from more context or explanation of the factors contributing to the downward trend.
Noise Level: 4
Noise Justification: The article provides relevant information about retail sales trends in the UK, citing data from the Office for National Statistics and offering insights from an expert source. However, it could benefit from more analysis or context on the broader economic factors contributing to these trends.
Financial Relevance: Yes
Financial Markets Impacted: Retail sector
Financial Rating Justification: The article discusses the impact of events on retail sales volumes, which can affect companies and financial markets in the retail industry.
Presence Of Extreme Event: No
Nature Of Extreme Event: No
Impact Rating Of The Extreme Event: No
Extreme Rating Justification: There is no extreme event mentioned in the text.

Reported publicly: www.retailsector.co.uk