Tech stores help retail sales beat expectations in September

Retail sales volumes are estimated to have risen by 0.3% in September 2024, beating expectations thanks to strong demand in tech stores, according to the latest figures from the ONS.

While the increase was lower than the 1.0% experienced in August, analysts had predicted a 0.3% decline for the month.

Non-food stores sales volumes – the total of department, clothing, household and other non-food stores – rose by 2.5% in September 2024, following a rise of 0.6% in August.

The strongest sub-sector growth was from other non-food stores, which rose by 5.5% over the month to September 2024. Within ‘other non-food’, computer and telecommunications retailers had the strongest contribution to growth.

Partly offsetting this, supermarkets sales volumes fell by 2.4% during the month to September 2024, leading to the largest month-on-month fall for food stores this year. Comments from retailers pointed to “unseasonably poor weather” and consumers continuing to cut back on luxury food items.

Meanwhile, the amount spent online, known as ‘online spending values’, rose by 1.3% during September 2024, and by 6.7% compared with September 2023.

Total spend – the sum of in-store and online sales – rose by 0.1% over the month. As a result, the proportion of sales made online increased from 27.5% in August 2024 (revised down from 27.6%) to 27.7% in September 2024.

ONS senior statistician Hannah Finselbach said: “Retail sales grew in September as tech stores reported a notable rise in sales. These were only partially offset by a poor month for supermarkets, where retailers said bad weather and households continuing to cut back on luxury food items hit sales.

“Looking at the broader picture retail sales increased across the third quarter as a whole, with growth seen from all main shop types.”