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Retail sales volumes fall 0.3% in February, ONS says

On this episode of Talking Shop I’m joined by Alain Bejjani—former Group CEO of Middle East retail giant Majid Al Futtaim, and author of the definitive new book, NEXT: Leading Through the New Realities. Drawing on his childhood in war-torn Beirut, and his experience steering a $9.5bn dollar retail and lifestyle empire through a global pandemic, Alain brings an unmatched perspective on leadership under pressure. Today, we break down his crisis survival playbook for retailers operating in distress. We discuss why resilience must always outpace efficiency, the four assets a brand must protect at all costs, and how to turn macro-turmoil into a long-term direction that scales.

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Retail sales volumes fell by 0.3% in February 2022 following a rise of 1.9% in January 2022, according to the latest figures from ONS, with sales volumes at 3.7% above their pre-coronavirus (Covid-19) February 2020 levels.

Non-store retailing sales volumes fell by 4.8% over the month following strong growth in December (2.7%) and January (4.0%); sales volumes were 33.2% above their pre-coronavirus February 2020 levels.

Food store sales volumes fell by 0.2% in February 2022 with large falls in alcohol and tobacco stores, which may be linked to higher spending in pubs and restaurants as confidence increased in going out; food store sales volumes were 0.1% below pre-coronavirus February 2020 levels.

Non-food stores sales volumes rose by 0.6% in February 2022 with growth in clothing (13.2%) and department stores (1.3%), with wider socialising and the return to the office following the lifting of Plan B restrictions at the end of January potential factors; these increases were partly offset by falls in other non-food stores (negative 7.0%) and household goods stores (negative 2.5%) with some retailers suggesting the stormy weather during the month had impacted footfall.

Automotive fuel sales volumes rose by 3.6% in February 2022 as the lifting of Plan B restrictions in England at the end of January 2022 increased travel; sales volumes were above pre-coronavirus February 2022 levels (0.9%) for the first time.

The proportion of retail sales online fell to 27.8% in February 2022, its lowest proportion since March 2020 (22.7%), continuing a broad downward trend since its peak in February 2021 (37.7%).

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