In Focus Commercial Credit
Revenge of the high street
High-street store sales boom as online growth falters
David Jinks Head of consumer research, ParcelHero
Retail sales bounced back to pre-Covid levels in July while online slumped 7%, reveal July’s ONS retail figures. There was plenty of good news for Britain’s
beleaguered high-street retailers in July’s Office of National Statistics (ONS) retail figures released today. The latest statistics reveal sales values
rose 4.4% over June, with the amount of sales actually 3% up on February’s pre- pandemic levels. In contrast to clothing stores’ 11.9%
growth, online sales fell back by 7%, compared to the previous month. These figures show that it is physical
store sales that are now leading retail’s recovery. Even though the online sales juggernaut has slowed down, however, that does not mean the future of town centre stores is secure. At last, high-street retailers have some news to celebrate.
Non-food store sales grew 10% in July,
At last, high-street retailers have some news to celebrate. Non-food store sales grew 10% in July, with fashion stores leading the charge with an 11.9% growth. Household goods stores actually rose an impressive 6% against pre-pandemic levels in February
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with fashion stores leading the charge with an 11.9% growth. Household goods stores actually rose an
impressive 6% against pre-pandemic levels in February. All this is hugely encouraging and shows
consumers still want to visit physical stores if they can feel safe. However, any retailer who still thinks
online sales are an extra – not a key part – of their overall sales strategy should not get too smug.
www.CCRMagazine.com
Online sales are still an enormous 50.4%
higher than they were in February before the pandemic hit the UK. These latest figures show that e-commerce gobbled 28.9% of all retail sales in the UK. That is a drop from a peak of 31.9% at
the height of lockdown, but still significantly more than the 20% of all sales achieved in February before coronavirus hit. This recovery remains fragile, and fears
of a second-wave of the Covid-19 virus, once children return to school, could quickly halt the progress seen in July. CCR
September 2020
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