8 November 2016
Retail has enjoyed its “best month since January” according to new figures released by the British Retail Consortium today. Growth in October represented a 1.7 per cent increase in like-for-like sales against last October, and fashion in particular has seen a boost, perhaps due to the early onset of winter weather.
“Fashion saw a reversal of recent fortunes, as new seasonal ranges drew shoppers in and boosted sales,” says the BRC’s chief executive Helen Dickinson. “Overall October’s figures paint a more positive picture of retail sales with a more balanced contribution from all product categories, nearly all of which saw a degree of sales growth.”
The news is a welcome boost to retailers as the industry prepares for the key sales period of the entire year.
“With retailers already a third of the way through the golden quarter and Black Friday weekend and Christmas looming, they will be hoping to maintain momentum by capturing the attention of shoppers in the noisiest time of year,” says retail analyst and head of retail at audit services KPMG.