Retail sales growth in the UK slowed in January, data from the British Retail Consortium and KPMG showed Tuesday.
Total retail sales in the UK between December 31 and January 27 grew by 1.2% year-on-year, slowed down from growth of 4.2% in January 2023.
Food sales growth decelerated to 6.3% over the three months to January, down from 8.0% a year prior.
Meanwhile, non-food sales fell by 1.8% annually over the three months to January.
Helen Dickinson, chief executive of the British Retail Consortium, said: ‘Easing inflation and weak consumer demand led retail sales growth to slow. While the January sales helped to boost spending in the first two weeks, this did not sustain throughout the month. Larger purchases, such as furniture, household appliances, and electricals, remained weak as the higher cost of living continued into its third year. The milder temperatures meant clothing sales performed poorly, particularly winter clothing and footwear. It was better news for health and beauty products, which continued to sell extremely well.’
Linda Ellett, UK head of consumer markets, Leisure & Retail at KPMG said: ‘The extraordinary weather conditions across large parts of the country did little to encourage shoppers out on to the high street, whilst continued industrial action on the rail network was unhelpful for city centre locations. Whilst there are some positive signs that mortgage rates are starting to fall and stabilise, and shop inflation has fallen to its lowest level in over a year, the feel good factor has yet to materialise at the tills.’
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