Annual High Street Sales Up 4.3% In October

The quantity bought in the retail industry in October 2014 increased by 4.3% compared with October 2013. It is the nineteenth period of consecutive year on year growth.

The monthly comparison shows that sales were up 0.8% compared with September 2014. All sectors except non-store retailing reported growth. Clothing stores grew by 0.5% but as they experienced a fall of 5.9% in September the difference is not yet made up.

Average shop prices fell b y 1.5% over the year, the biggest fall since December 2002. The main reason was a fall in prices at petrol stations where prices were at their lowest since the end of 2010. The amount spent in retail in October 2014 increased by 2.8% compared with October 2013 and by 0.7% when compared with September. The average weekly spend in retail was estimated to have been £7.1bn in October 2014 compared with £6.9bn in October 2013 and £6.8bn in September.

Online sales accounted for 11.2% of all retail sales in October, a fall of 0.1%. Online sales increased by 7.5% compared with October 2013, the lowest year on year increase since November 2012.

Retail Sales Increase Steadily

Retail sales increased by 0.4% in August compared with July 2014. Growth was stronger over the year and increased by 3.9% when compared with August 2013. Growth in retail sales has increased steadily now for 17 consecutive months year on year and 18 consecutive months 3 months on 3 months. The overall picture therefore is one of growth according to the ONS.

The amount spent in retail increased by 0.2% compared with July and by 2.7% when compared with August last year. Average store prices fell by 1.2% in the August annual comparison, the largest fall since July 2009. Food prices fell by 0.1% the first annual fall since December 2004.

Online sales fell by 0.2% to 11% of overall sales. The amount spent online increased by 8.3% between August 2013 and August 2014.