UK to finally see increase in department store sales according to ONS Retail Statistics July 2019
Today the Office of National Statistics (ONS), Great Britain, released its July 2019 retail sales statistics, comparing year on year and most recent month on previous month sales and quantity.
Long term trends overall since 2014 has been continued growth, however, 2016 – 2019 has had the strongest growth, with 2014 to 2016 being relatively flat.
As a whole year on year [2019/2018] the amount spent (AS) in retail has increased by 3.9% and the quantity brought (QB) has increased by 3.3%.
Broken down, year on year and most recent month on previous month, non-store retailing has been the largest contributor, with an AS of 2.1 and a QB of 2.2 as well as an AS of 0.6 and a QB of 0.7 respectively, resulting in the largest growth for non-store retailing since May 2016. The only negative contribution year on year has been food stores with a -0.2% decrease in QB compared to department stores, which had a 1.6% increase in QB after 6 consecutive months of decline.
In addition, online sales have seen a year on year growth of 12.7% and accounts for 19.9% of the retail industry, a 1% increase compared to June 2019.
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“While retailers will welcome the return to growth, it has no doubt been a tough few months for the industry. July’s retail sales figures are a testament the potential power of key calendar moments, such as Amazon Prime Day, as opportunities for retailers to incentivise customers to spend. We saw an average discount of 11% for online retailers from our own data. Yet, whilst discounting might entice customers to spend, it's unlikely to earn loyalty, especially when many are considering the same tactics.
To keep sales strong, I'd encourage retailers to focus on customer experience as this is where businesses can really make the difference. On one hand, retailers need to focus on making shopping frictionless and convenient. On the other hand, going that extra mile in personalising their experience with surprise and delight, will encourage customer loyalty.” Says Salesforce’s Retail CTO EMEA, Nick Botter.
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