The latest figures from the industry body – which cover the four weeks from 29 September to 27 October 2024 – showed that health and beauty sales remained buoyant last month, with beauty advent calendars flying off the shelves.
In total, UK retail sales increased by 0.6% year-on-year in October, against a growth of 2.6% in October 2023. This was below the three-month average growth of 1.3% and the 12-month average growth of 1%.
Food sales increased 2.9% year-on-year over the three months to October, against a growth of 7.9% in October 2023. This is below the 12-month average growth of 4.1%.
Non-food sales decreased 0.1% year-on-year over the three months to October, against a decline of 1% in October 2023. This is above the 12-month average decline of 1.6%.
In-store non-food sales decreased 1.2% year-on-year over the three months to October, while online non-food sales increased by 0.4% year-on-year in October.
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Helen Dickinson, chief executive of the BRC, said: “After a painful Budget for retailers, the hope is it will be less painful for households in the immediate term and consumer appetite will pick up in time for the Black Friday sales and festive season.
“Retailers must now grapple with over £5bn of new costs announced by the Chancellor, including in employer National Insurance, business rates and the uplift in the National Living Wage. Managing this will hold back investment and growth in the short term, while further squeezing already low margins and risking inflation.”
Linda Ellett, UK head of consumer, retail and leisure at KPMG, said: “While October’s growth didn’t continue at the levels seen for the retail sector in September, retailers will feel that there is mitigation and that they can pick up the pace again in November.
“Speculation about the impact of the Budget, a holding-back of demand until Black Friday promotions, and a later half term break all impacted retail sales data over the last month.
“With clarity now provided by the Budget and many households escaping paying increased tax from their wages, retailers will be hoping for an upturn in consumer confidence and spending. Any positivity from retailers, though, will of course be dampened given the increased employment costs that they face.”
