Non-Food Online Sales Decline as Consumers Curb Spending

  • UK total retail sales increased by 1.2% year on year in January
  • Food sales grew 6.3% year on year over the three months to January
  • Non-food sales decreased 1.8% year on year over the three months to January
  • In-store non-food sales declined 1.5% year on year in January
  • Online non-food sales proportion dropped to 35.0% in January from 35.4% in January 2023
  • Helen Dickinson calls for government support and action to address retailers’ needs

UK total retail sales increased by 1.2% year on year for the four weeks ended 27 January 2023, according to the British Retail Consortium (BRC). Food sales grew 6.3% year on year over the three months to January, while non-food sales decreased 1.8% year on year over the same period. In-store non-food sales declined 1.5% year on year in January. The proportion of non-food items bought online dropped to 35.0% in January from 35.4% in January 2023. BRC’s Helen Dickinson urged the government to address retailers’ needs, including business rates and recycling proposals, to boost local and national economic growth.

Factuality Level: 8
Factuality Justification: The article provides accurate information about UK retail sales figures, cites a reputable source (British Retail Consortium), and includes relevant quotes from the BRC’s chief executive. It also presents a balanced view of the situation without any clear signs of sensationalism or opinion masquerading as fact.
Noise Level: 3
Noise Justification: The article provides relevant information about UK retail sales trends and includes quotes from a source with expertise in the field. It also mentions potential policy changes that could impact the industry. However, it lacks in-depth analysis or exploration of long-term consequences and does not offer significant actionable insights for readers.
Financial Relevance: Yes
Financial Markets Impacted: UK retail sector
Financial Rating Justification: The article discusses changes in UK retail sales figures and their impact on consumer demand, which can affect the performance of companies within the retail industry and potentially influence stock prices.
Presence Of Extreme Event: No
Nature Of Extreme Event: No
Impact Rating Of The Extreme Event: Minor
Extreme Rating Justification: There is no mention of an extreme event in the last 48 hours.

Reported publicly: www.retailsector.co.uk