01142747576 bestadvice@knowleswarwick.com

Retail sales bounce back 13.9% in June

24th July 2020

Retail sales increased in both value and volume from May to June 2020, as non-food and fuel stores show signs of recovery from the effects of the coronavirus pandemic.

Data from the Office for National Statistics (ONS) reveals that in June 2020, the volume of retail sales increased by 13.9% when compared with May 2020.

Total sales returned to a similar level as before the pandemic, but the ONS noted there was a "mixed picture in different store types".

The volume of sales in non-food stores showed particularly strong month-on-month growth in June, increasing by 45.5%.

This only represented a partial recovery when compared to pre-lockdown levels, however, remaining around 15% lower than in February.

Food stores did not experience the same dip in sales during lockdown as non-food stores , with sales peaking in March and remaining at higher than usual levels over the following months.

The ONS says this was likely the result of stockpiling and increased consumer spending on food and drink, following the closure of restaurants and bars.

In June, sales in food stores declined slightly by 0.1% but remained 5.3% higher than in February.

Meanwhile, online spending fell slightly from 33.3% in May to 31.8% in June, but remained at an all-time high, compared to 20% in February.

Talk to us about your business.

Happiness is a Positive Cash Flow

Click here for the Quickbooks website Xero Gold Partner Accountants Sage accountants, experts in cloud accounting, Sheffield, South Yorkshire 

ICAEW Chartered Accountants Click here for the ACCA website Connect Yorkshire  Sheffield Chamber of Commerce Click here for the Caunce O'Hara website 

Knowles Warwick Financial Services Limited is authorised and regulated by the Financial Conduct Authority (in respect of regulated investment, insurance and mortgage business). For regulated financial services, the Financial Ombudsman Service is the alternative dispute resolution provider.