Fashion

UK retail ‘recovers’ in May, fashion stronger but inflation erodes gains – official stats

It seems that the good weather and the royal wedding really did boost retail sales and the figures were reasonably good for the fashion sector, although it’s clear that fashion hasn’t been able to make up for the slower sales it has seen over the last nine months.Overall during May, the volume of goods sold in Britain rose 1.3% compared with the previous month with growth seen across all main sectors.

And year-on-year growth was even better at 3.9%, which meant that May showed a growth acceleration compared to the few previous months when the year-on-year figures had been much more anaemic. But it has to be said, it wasn’t exactly cause for excessive celebration given that growth in May 2017 had been weak and that pent up demand still couldn’t rescue the spring season after the weather in March and April had proved very un-spring-like.But on the upside, the ONS said online retailing showed growth of 16.2% on a volume basis year-on-year, while online spending for department stores and clothing stores continued to rise, “achieving new record proportions of online retailing in May at 17.4% and 17.6% respectively.”The proportion of online spending in clothing stores has grown at a much faster rate in the last 14 months, from 14.7% in March 2017 to 17.6% in May 2018.Physical department stores and clothing stores weren’t so buoyant however. Department stores saw volume growth of 2.9% and value growth of 3.7%, although much of that value figure would have been accounted for by the impact of inflation. Textile, clothing and footwear stores saw volume growth of only half a percent, while value growth was 2%, a figure that would have been completely wiped out by inflation.

Related Posts

Clothing, accessories to make up more than half of US back-to-school sales

After apparel and accessories, school supplies are set to account for the second largest chunk of spending at 22%, followed by electronic gadgets (13%) and computers and hardware…

England’s quarantine U-turn still excludes highest spenders says Walpole

“The British luxury sector calls for further changes to travel quarantine rules so that it can return to growth and support ‘Brand Britain’ across the globe,” said luxury…

One in three Britons addicted to ‘one-click’ buying – report

This ‘addiction’ is hurting the UK high street and could potentially result in 100,000 retail stores lying empty in the next decade, according to Fintech company iZettle, which…

Retail stocks set to bypass tariff woes but face aftershock risk

The current U.S. tariffs on $200 billion worth of Chinese imports were scheduled to increase to 25 percent from 10 percent if a trade deal were not reached…

Next boss warns on supply chain issues, calls for immigration policy change

Britain is already facing disruption caused by worker shortages. A dearth of truck drivers in the world’s fifth-largest economy is already threatening fuel supplies and has led to…

US retail holiday sales to exceed $1.10 trillion in 2018

 Retail holiday sales are expected to increase between 5 and 5.6% compared to the holiday period in 2017, totaling $1.10 trillion from November 2018 to January 2019. Furthermore, e-commerce…