3 mths to May food sales up 3.6% yr/yr, non-food down 2.4% (Il Sole 24 Ore Radiocor) - London, 04 Jun - In May, total retail sales in the UK rose 0.7% compared with the same year-earlier period when they increased 3.9%, according to the latest survey released by the British Retail Confederation (BRC) and consultancy KPMG.

This was higher than the three-month average growth of 0.3% and lower the 12-month average rise of 2.0%.

Food sales rose in the month of May and were 3.6% higher in the three month period, compared with the 9.6% jump in the same period of 2023. The three-month figure was below the 12-month average growth of 6.4%.

Non-food sales fell in May alone and contracted 2.4% in the three-month period against growth of 0.7% a year earlier. The three-month figure is steeper than the 12-month average decline of 1.7%.

In-store non-food sales over the three months to May decreased 2.7% year on year, against a growth of 2.9% in May 2023. This is below the 12-month average decline of 1.1%.

Online Non-Food sales increased by 1.5% year on year in May, against an average decline of 3.0% in May 2023. This was above the three-month and 12-month average declines of 1.8% and 2.6%, respectively.

The online penetration rate, or the proportion of non-good items bought online, increased to 36.7% in May from 35.9% in May 2023. This was slightly higher than the 12-month average of 36.1%.

"The economy may be improving, but the health of the sector remains fragile, with major investment held back by many until there are clear signs that consumer confidence has turned into spending," said Linda Ellett, UK Head of Consumer, Retail & Leisure, at KPMG.

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(RADIOCOR) 04-06-24 11:37:44 (0274) 5 NNNN