Bira cautiously welcomes retail sales growth but calls for continued support
Posted on in Business News , Cycles News
Bira has responded to the BRC-KPMG Retail Sales Monitor for September 2024.
The report, which can be downloaded here, has highlighted a number of growth indicators for the period.
The report states:
- UK Total retail sales increased year-on-year in September
- Food sales increased year-on-year over the three months to September
- Non-Food sales decreased year-on-year over the three months to September
- In-store Non-Food sales decreased year-on-year over the three months to September
- Online Non-Food sales increased year-on-year in September
- Online penetration rate increased in September *Online penetration rate = the proportion of Non-Food items bought online
Andrew Goodacre, CEO of Bira, said: "It's encouraging to see sales growth in September, especially after many months of decline. However, we must recognise that this growth in sales is not covering the increase in costs that retailers are facing.
"On a positive note, if consumers start to spend more on a consistent basis, independent retailers will be keen to invest and grow their businesses. However, this investment and growth is only possible if business rates are not increased in the upcoming Autumn Statement.
"The Chancellor has the power to extend the retail, hospitality and leisure relief, which is absolutely vital if high streets are to be revitalised and grow. We urge the government to consider this crucial support for the retail sector."
Bira emphasises that while the sales increase is welcome news, sustained support is necessary for the long-term health of the retail sector, particularly for independent retailers.
The British Independent Retailers Association (Bira) is a membership group supporting independent shops, hospitality and service retail businesses throughout the UK. Bira brought ACT into its group of retailers earlier in March 2023.