Home / Market Update / Commodities / Retail Sales Surge by Christmas Shopping
Retail Sales

Retail Sales Surge by Christmas Shopping

Early Christmas shopping have pushed up shop sales in October as people spent more on clothing and on toys.

Sales rose by 0.8% in October, following no growth in September, according to the Office for National Statistics. Clothing sales reached their highest level since the start of the pandemic.

Second-hand stores, like charity shops and auction houses, had seen sales rise. Sales in clothing stores were only 0.5% below pre-pandemic levels, “with some retailers suggesting that early Christmas trading had boosted sales.

Items that people were buying or pre-ordering earlier than usual for Christmas this year included toys and clothes, shoes and accessories.
After five months of no growth, retail sales picked up in October. Although sales overall are above pre-pandemic levels, it remains a mixed picture.

Fuel sales fell sharply, returning to more normal levels after the fuel supply crisis in September, and food and online sales also dropped.
Helen Dickinson, chief executive of the British Retail Consortium, said that retailers were putting in a gargantuan effort to make sure they had Christmas stock amid continuing supply chain problems.

“Labour shortages throughout the supply chains – from farms to distribution – are pushing up costs and creating some gaps on the shelves,” she said.

Check Also

RBA

RBA Holds Rates Steady, Signals Prolonged Tight Monetary Policy Amid Persistent Inflation

The Reserve Bank of Australia (RBA) maintained its benchmark interest rate at 4.35% on Tuesday, …