UK retail sales growth slows by 0.3% in October
Food stores also saw a decrease in sales volumes by 0.3% in October 2023, as consumers were buying cheaper products and prioritising important items
Retail sales volumes fell by 0.3% in October 2023, following a fall of 1.1% in September 2023, according to the new figures from the Office for National Statistics (ONS).
Automotive fuel sales volumes fell by 2.0% in October 2023, as retailers reported that consumers were spending their money more cautiously, alongside the impact of bad weather.
Despite some recent volatility in the monthly data series, in the three months to October 2023, sales volumes slipped by 0.7% when compared with the previous three months, which may be affected by increasing fuel prices.
Food stores also saw a decrease in sales volumes by 0.3% in October 2023, as consumers were buying cheaper products and prioritising important items.
However, supermarkets reported an increase in sales volumes of 0.2% over the month while both specialist food stores (such as butchers and bakers), and alcohol and tobacco stores reported a decline of 4.2% and 10.4%, respectively.
Meanwhile, non-food stores sales volumes also declined by 0.2% in October 2023, following a 2.1% fall in September 2023. Retailers suggested that cost of living, reduced footfall and the wet weather in the second half of the month contributed to the fall.
Within non-food, most sub-sectors reported falls in sales volumes over the month, including clothing (0.9%), household goods (1.1%), and department stores (0.1%).
Other non-food stores were the only sub-sector to register positive growth, with sales volumes rising by 0.8% in October 2023.
Additionally, non-store retailing sales volumes rose by 0.8% in October 2023, while online spending values fell by 1.2% from September to October 2023.
Heather Bovill, deputy director for Surveys and Economic Indicators at the ONS, said: “Retail sales fell again in October to their lowest level since February 2021 when widespread lockdown restrictions were in place.
“After rebounding in September, fuel sales dipped with increasing prices discouraging customers, while food sales also dropped as consumers prioritised essential goods. It was another poor month for household goods and clothes stores with these retailers reporting that cost-of-living pressures, reduced footfall and poor weather hit them hard. However, it was a better month for online retailers, the only main sector to report growth in October.”
