Retail sales strong but slowing, says BRC

BRC Shop Tax

On a total basis, retail sales increased by 6.4% in July, against a growth of 3.2% in July 2020, according to the latest figures from the British Retail Consortium (BRC).

This is below the three-month average growth of 14.7% and the 12-month average growth of 10.4%. On a two-year basis, total retail sales grew by 9.1%

BRC chief executive Helen Dickinson OBE said: “July continued to see strong sales, although growth has started to slow. The lifting of restrictions did not bring the anticipated in-store boost, with the wet weather leaving consumers reluctant to visit shopping destinations.

“However, the vacancy rate is continuing to rise. Many shops and local communities have been battered by the pandemic, with many high streets in need of further investment. Unfortunately, the current broken business rates system continues to hold back retailers, hindering vital investment into retail innovation and the blended physical-digital retail offering. The Government must ensure the upcoming business rates review permanently reduces the cost burden to sustainable levels. Retailers want to play their part in building back a better future for local communities, and Government must give them the tools to do so.”

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