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Retail sales have dipped in October by 0.7% following a rise of 0.1% in September, the ONS has revealed.
New figures released today (22 November) show that when compared with their pre-coronavirus pandemic level in February 2020, volumes were down by 1.5%. However, over the year to October 2024, sales volumes rose by 2.4%.
Non-food stores sales volumes – which include department, clothing, household and other non-food stores – fell by 1.4% in October, following a rise of 2.3% in September. The strongest subsector fall was within clothing stores, which fell by 3.1% over the month to October. The fall follows growth in previous months attributed to end of season sales and improved weather.
At the same time, other non-food stores also fell by 1.4% over the month following strong growth in September.
According to the ONS, retailers attributed this result to low consumer confidence and uncertainty around the Budget announcement.
Regarding online shopping, sales fell by 1.2% during the month, but rose by 5.0% when compared with October 2023.
Commenting on today’s ONS retail sales figures, Oliver Vernon-Harcourt, head of retail at Deloitte, said: “After a few months of positive growth, October’s retail sales figures paint a more subdued picture, with Halloween festivities failing to continue the upwards sales trajectory. Mild and dry weather, paired with pre-Budget uncertainty, meant that consumers opted out of shopping for seasonal clothing and chose instead to rein back their spending in the run up to the biggest shopping months of the year.
“The hope amongst retailers will be that consumers feel ready to release their purse strings in this period. So far there has been a disconnect between consumer confidence and spending – bridging this gap will rely on retail businesses providing the best value and shopping experiences both in store and online in their busiest two months of trading.”
