BRC calls for action to support high street in upcoming Budget

Demand across the board in the UK cooled last month, with non-food sales decreasing -0.8% in the four weeks from 2–29 August.

In-store non-food sales fared even worse, down -1.2% in the same time period. This was below the 12-month average decline of -0.4%.

“August was a disappointing month for retail sales,” said Harvir Dhillon, lead economist at the British Retail Consortium. “ This was particularly true for discretionary spending, as big-ticket purchases declined and consumers opted to instead treat themselves to smaller luxuries.”

“As summer spending cools, all eyes turn to the Autumn Budget. Retailers are being hit by a double whammy of rising costs and slowing consumer demand. The new government has put high streets at the centre of their vision for better economic growth and the upcoming Budget is an opportunity to deliver on this commitment. Taking action on business rates and energy costs would help support retail investment in local communities while delivering value for consumers.”