Non-Food Retail Sales Decline as Consumers Curb Spending

  • UK retail sales slowed in August
  • Non-food retail sales decreased by 2.0% on a total basis and 2.6% on a like-for-like basis
  • Food sales increased by 3.8% on a total basis and 3.3% on a like-for-like basis
  • Online non-food sales decreased by 6.1% in August
  • Retailers are preparing for tough times ahead with inflation predictions reaching 20% in the new year

UK retail sales slowed in August due to rising costs and inflation, according to data from the British Retail Consortium (BRC) and KPMG. Non-food retail sales decreased by 2.0% on a total basis and 2.6% on a like-for-like basis, while food sales increased by 3.8% on a total basis and 3.3% on a like-for-like basis. Online non-food sales dipped by over 6.1%, and retailers are preparing for tough times ahead with inflation predictions reaching 20% in the new year. Consumers are reining in spending amidst cost-of-living concerns, impacting various product categories.

Factuality Level: 8
Factuality Justification: The article provides accurate information from a reliable source (British Retail Consortium and KPMG retail monitor), presents data with clear comparisons to previous years and averages, and includes relevant quotes from experts in the field. It does not contain any irrelevant or sensational information, nor does it include personal opinions as facts.
Noise Level: 4
Noise Justification: The article provides relevant information about UK retail sales and offers insights into consumer behavior during the cost-of-living crisis. It includes data from a reputable source (BRC and KPMG) and quotes experts in the field. However, it could benefit from more analysis or context on how these trends fit into broader economic patterns or potential solutions for consumers and retailers.
Financial Relevance: Yes
Financial Markets Impacted: UK retail sector
Financial Rating Justification: The article discusses UK retail sales growth and its impact on consumer spending habits due to inflation, which can affect the overall economy and companies within the sector.
Presence Of Extreme Event: No
Nature Of Extreme Event: Other
Impact Rating Of The Extreme Event: Minor
Extreme Rating Justification: The article discusses a slowdown in UK retail sales due to the cost-of-living crisis and inflation, but it does not mention an extreme event within the last 48 hours.

Reported publicly: www.retailsector.co.uk