According to a report published today by The British Retail Consortium and KPMG, the total value of retail sales grew by 4.4% in February compared with 12 months earlier. Like for like February sales were up 2.7% on the previous year.
The findings reveal that retail sales grew at their fastest rate in three years last month, driven by big ticket goods and items for the home.
Whilst food sales growth was slower than other areas of retail, the sector still grew 1% on last year. Other strong sectors included health and beauty and electricals, bolstered by the continuing demand for tablet computers, with online sales surging more than 10% on last year.
David McCorquodale, head of retail at KPMG, said the figures would boost retailer confidence: “Against all expectations, retail sales rose this month to achieve the strongest underlying sales growth for three years. Relatively dry, if cold, weather and the occasional day of spring sunshine helped to lift clothing sales as well as drive footfall in the general direction of the department stores, with non-food and furnishing and flooring categories showing strong performances.”
Pricing intelligence company Profitero provides retailers with actionable price intelligence data, monitoring over 50 million products across 4,000 eCommerce retailers every day, observing pricing, promotions and stock availability. We work with the world’s leading retailers, enabling them to acquire new customers and grow profit margins by monitoring and responding to changes in competitor pricing and promotional activity as they happen. For more information on Profitero price intelligence and competitor monitoring, visit www.profitero.com or email email@example.com
Profitero.com web-based competitor price monitoring for retailers and brands