June saw the highest retail sales in 18 months, figures show

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20th July 2015 15:47 - Retail

According to a recent British Retail Consortium and KPMG survey, June 2015 saw the highest boost to retail sales in 18 months, with items June saw the highest retail sales in 18 months, figures show such as outdoor toys, furniture and summer clothing selling at a rapid rate.

Retail sales have increased by 1.8 per cent over the last 18 months, which indicates that the economy may be recovering.  

The rise has been attributed to the heatwave that took place in June.

The research found that clothing retailers had significantly reduced the cost of summer clothes in June, as the weather in May resulted in many shops having a lot of leftover summer stock.

The Head of Retail at KPMG, David McCorquodale, said of the findings:

“As the Wimbledon tennis championships got underway, June served up an ace for sales of non-food items.

“After cooler May weather had dampened fashion sales, the glorious sunshine and some significant promotional activity this month lured consumers into a rush to update summer wardrobes.

“Men’s fashion and footwear sales were also given a particular boost as dads were treated to something special on Father’s Day.

“Elsewhere, sales of toys & baby equipment bounced up towards the end of the month with seasonal outdoor ranges such as paddling pools and trampolines soaring as consumers looked to make the most of June’s heatwave.”

In June 2015, total retail sales increased by 2.9 per cent in comparison with June 2014, with online sales increasing by 17.6 per cent.

However, despite the rise, like for like sales has stayed 0.1 per cent lower over the last 3 months. The decrease has been attributed to the supermarket price war, with the sales of food down 2.7 per cent and non-food items up by 2.1 per cent.

Chief UK and European economist at ISH Global Insight, Howard Archer, said of the findings:

“The prospects for retail sales and consumer spending look bright for the rest of 2015 and beyond.

“Consumer confidence was at a 15-year high in June, inflation is negligible, earnings growth is improving and employment is high and rising.

“Additionally an expected pick-up in housing market activity should be supportive to consumer spending through boosting demand for household goods and furnishings.”

The figures presented by the British Retail Consortium and KPMG survey present good news for high street retailers and e-retailers.

Compared to June 2014, online sales were up 7 per cent - the fastest rate of growth since August 2014, despite the slow start for online sales during early 2015.

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