Survey Shows Retail Sales Rebounded Strongly in July

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24th July 2014 13:53 - Retail

Retail sales in July recovered strongly from June’s disappointing figures, according to the Confederation of British Industry’s (CBI) most recent Monthly Distributive Trades Survey.

This month’s encouraging sales figures has resulted in just over half (51%) of the survey’s respondents predicting further growth next month, with significantly less (16%) expecting a decrease.

Footwear and leather (74%), furniture and carpets (51%) and clothing (45%) experienced the greatest volume growth, with grocery (33%), specialised food and drink (24%) and hardware and DIY (20%) sectors incurring increases too.

Chemists’ sales volumes, however, moved in the opposite direction, suffering a 50% decline in transactions. Non-specialised department stores remained fairly stagnant with a very modest 2% upsurge.

Furthermore, internet sales volumes followed the retail sector’s overall trend growing by almost two fifths (37%) –  however, this was still marginally lower than expectations (40%) and 4% below the long-run average (51%).

Almost half (46%) of the retailers questioned said sales volumes had increased in the year to July, compared to the one quarter (25%) who said transactions fell.

In addition, four fifths (80%) of motor traders said that sales volumes had increased in the year to July, with the majority forecasting growth again in August. More than two fifths (44%) of wholesalers said the sector’s sales volumes had augmented over the same time frame, with just less than half (21%) saying trade fell.

Barry Williams, Chair of the CBI Distributive Trades Survey Panel, said: “As the temperature began to rise, it seems so did sales volumes. Almost all sectors saw growth, with grocers and clothing stores telling us they performed particularly well as people bought barbeque supplies and summer outfits.

“Retailers expect an even faster rise in sales volumes next month, and are stocking up in anticipation of growing demand.”

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