Food sales increased by 2.9% YOY over the three months to October, against a growth of 7.9% in October 2023, according to the British Retail Consortium’s KPMG Retail Sales Monitor.
Despite the food sector’s YOY growth of 2.9%, it is below the 12-month average growth of 4.1%.
Overall, UK Total retail sales saw a 0.6% uplift YOY in October, down from 2.6% in October 2023. This was below the 3-month average growth of 1.3% and the 12-month average growth of 1.0%.
“In October, UK food and grocery sales saw a modest step up in growth compared to September, but this period does not include the last five days of the month, when an uptick of spending around Halloween might have been expected,” Sarah Bradbury chief executive of IGD said.
Bradbury said the arrival of customary ‘pre-festive’ deals in categories such as wine helped boost sales in the second half of the month.
“Importantly volume, as well as value growth, remained positive despite a downbeat mood in the wider economy reflecting nervousness around potential tax hikes in the government’s budget,” she added.
Helen Dickinson OBE chief executive of the British Retail Consortium stated that after a promising start to autumn, October’s sales growth was disappointing: “This was part driven by half term falling a week later this year, depressing the October figures, and November sales will likely see more of a boost. Uncertainty during the run-up to the Budget, coupled with rising energy bills, also spooked some consumers.”
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