Food Sales Up 9.8%, Online Non-Food Sales Down 3.6%

  • Retail sales increased by 5.1% in April compared to a decline of 0.3% in the same month last year
  • Food sales rose 9.8% in total and 10.0% on a like-for-like basis over the three months to April
  • Non-food sales increased 1.2% on a total basis and 0.8% on a like-for-like basis over the three months to April
  • Online non-food sales decreased by 3.6% in April compared to a decline of 13.9% in April 2022
  • Proportion of non-food items bought online decreased to 37.3% from 38.8% in April 2022
  • Retailers face cost pressures from labour market, energy prices, and rising input costs
  • Government should minimize additional regulatory burdens to help retailers
  • High street sales varied with strong performance in footwear, food, and jewellery while clothing and computing declined

Total retail sales increased by 5.1% in April 2023, compared to a decline of 0.3% in the same month last year. Food sales rose 9.8% in total and 10.0% on a like-for-like basis over the three months to April. Non-food sales increased 1.2% on a total basis and 0.8% on a like-for-like basis over the three months to April. Online non-food sales decreased by 3.6% in April, compared to a decline of 13.9% in April 2022. The proportion of non-food items bought online dropped to 37.3% in April from 38.8% in April 2022. Retailers face cost pressures from labour market, high energy prices, and other rising input costs, with many retailers reporting lower profits this year due to these factors. The British Retail Consortium and KPMG suggest that government should minimize additional regulatory burdens to help the sector. High street sales varied, with strong performances in footwear, food, and jewellery while clothing and computing witnessed declining sales.

Factuality Level: 8
Factuality Justification: The article provides accurate information about retail sales figures and quotes from experts in the field, offering a balanced view of the current state of the industry with some contextual analysis.
Noise Level: 3
Noise Justification: The article provides relevant information about retail sales trends and includes quotes from experts in the field. It also discusses some of the challenges faced by retailers. However, it could benefit from more analysis or context on how these trends fit into broader economic patterns or consumer behavior shifts.
Financial Relevance: Yes
Financial Markets Impacted: Retail sector
Financial Rating Justification: The article discusses retail sales growth, inflation impact on consumer spending, and profitability of retailers which are all financial topics related to the retail industry.
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 text.

Reported publicly: www.retailsector.co.uk