UK Contractors: Retail sector sees high sales volumes
Limited company contractors trading in retail will be interested to learn that sales volumes in this sector grew solidly in the year to July.
The Confederation of British Industry’s (CBI) latest Monthly Distributive Trades Survey revealed that retail sales volumes have grown significantly over the last few months, rebounding from a disappointing performance a month earlier.
Of those surveyed, 46% of retailers said sales volumes rose in the year to July, while 25% said they fell, giving a balance of +21% and beating expectations (+17%).
According to findings, those sub-sectors in retail that performed particularly well in terms of sales volumes were grocers (+33%), clothing (+45%), specilised foot and drink (+24%), footwear & leather (+74%), furniture & carpets (+51%) and hardware and DIY (+20%).
Figures also show that internet sales volumes within retail rose solidly.
The CBI’s report revealed that UK retailers are relatively confident when it comes to the future, with half (51%) predicting sales volumes to grow at an even stronger pace next month.
Barry Williams, Chair of the CBI Distributive Trades Survey Panel and Asda SVP and Chief Merchandising Officer for Food, commented on the findings, “As the temperature began to rise, it seems so did sales volumes. Almost all sectors saw growth, with grocers and clothing stores telling us they performed particularly well as people bought barbeque supplies and summer outfits.
“Retailers expect an even faster rise in sales volumes next month, and are stocking up in anticipation of growing demand.”
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