20 Sep 2018
It was a bad month for clothing stores as the month of August cooled off from the unseasonably warm weather. However, the retail sales figures were offset by the increase in online sales, yet again.
The key findings from the statistics showed:
Phil Mullis, Partner and Head of Retail and Wholesale at leading accountancy firm, Wilkins Kennedy, said: “As the weather became more changeable, clothing retailers on the high street really suffered.
“Online sales continued to show strong growth and year on year, the sector has experienced an increase of 2%. It just goes to show that spend is gravitating towards online, as opposed to the high street.
“However, increases in quantity bought from the food and household sectors have kept the figures afloat. Maybe people are enjoying a final spending splurge as kids go back to school, and the Christmas season looms ahead of us. In which case, it will be interesting to see how personal debt figures will be impacted between now and the end of 2018.
“Retailers need to fine tune their multi-channel offerings if they haven’t already. It is more important than ever that retailers are prepared to cater for the changes in customer spending as we look towards the retail Golden Quarter."