Shopping rebounds on supermarkets and January sales
Retail sales experienced a resurgence in January as consumers rushed to stockpile food items at supermarkets and capitalise on New Year discounts.
Official data unveiled a notable 3.4% surge in sales, rebounding from a record decline in December. Supermarkets witnessed a robust uptick in food sales, while department stores benefited from January sale events.
Nevertheless, inflation persisted at elevated levels, resulting in consumers paying more for fewer goods.
The Office for National Statistics (ONS) indicated a 3.9% increase in the value of goods purchased in January compared to a 3.4% rise in the volume of products bought.
Heather Bovill, deputy director for surveys and economic indicators at the ONS, noted, “Sales saw an increase across nearly all retail sectors, with supermarkets experiencing particularly strong performance. Household goods stores, sports shops, and department stores also reported vigorous trading, buoyed by January sales promotions.”
The sharp decline in shop sales in December was attributed by the ONS to consumers shifting their Christmas shopping to Black Friday sales in November.
Furthermore, the ONS highlighted that 46% of approximately 2,400 surveyed individuals last year expressed intentions to reduce spending on Christmas food or gifts due to the escalating cost of living.