Latest research reveals that heatwave helped increase sales for UK retail sector

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28th July 2017 12:04 - Retail

Latest research reveals that heatwave helped increase sales for UK retail sector

Latest research reveals that heatwave helped increase sales for UK retail sector: The Office of National Statistics has estimated a 1.5% increase in sales, across all non-food retail sectors in the UK, during the heatwave period.

With the hottest day reaching temperatures of over 30 degrees Celsius across most of the UK, retail stores saw an increase in sales, with clothing stores contributing to most of the growth. 

In the three months up to June 2017, both the amount spent (value) and the quantity bought (volume) in the retail industry increased. In comparison to May's statistics this year, the quantity bought has increased by 0.6%, with non-food stores contributing to most of the growth.

However, following the current retail figures, sales faced a decline of 1.4% in the first quarter, due to an increase of store prices. Yet, when store prices began to flatten in April this year, the growth of the second quarter has brought this year’s overall statistics to a relatively equal level.

Moreover, clothing was the sub-sector that contributed to most of the growth, with an increase of 1.1% from 2017’s first quarter and a growth of 6.2% from June last year.

Despite retail sales changing on a seasonal order, profits have fluctuated due to the weather’s unpredictability, meaning that even though the figures are currently at a steady incline, this cannot suggest continuous growth for the rest of the year.   

Commenting on the latest market research, UK economist, Paul Hollingsworth at Capital Economics, states: "We shouldn't get too carried away by these figures. After all, the retail sales figures are very volatile on a month-by-month basis. And the heatwave in June provided a boost to clothing sales that may not be sustained." 

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