(MENAFN- Kuwait News Agency (KUNA)) UK retail sales were subdued in July, despite better weather and the start of the Olympics towards the end of the month, according to figures published here Tuesday.
These factors helped the sale of food and drink, the figures from the British Retail Consortium indicated.
Overall, sales rose just 0.1 percent in July compared with a year earlier on a like-for-like basis, which strips out the effect of newly opened shops. This reflected the continued squeeze on household incomes, the BRC said.
Online retail sales rose 15.6 percent in July compared with the same time last year.
Cooler weather helped drive online traffic at the beginning of the month as consumers spent more time at home, the consortium said.
Some retailers had benefited from longer opening hours brought in for the Games, the BRC said.
However, the sporting events only started at the end of July, so August's figures are likely to give a better indication of the impact on spending habits, analysts said.
There have been concerns that people have been put off from shopping in central London because of warnings of overcrowding due to the Olympics.
The number of people going to shops on Friday 27 July, ahead of the opening ceremony, was 10.4 percent lower than a year ago, said research group Experian.
Legal Disclaimer:
MENAFN provides the information “as is” without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the provider above.