Bira (the British Independent Retail Association) has responded to the BRC-KPMG Retail Sales Monitor for May 2024; the report highlighted that UK Total retail sales increased by 0.7% year-on-year (YoY) in May, against a growth of 3.9% in May 2023.
CEO of Bira stated that the priorities of the incoming government must be economic growth and reviving consumer confidence; he highlighted that high streets are the lifeblood of local communities and more needs to be done to support them in light of this report.
Andrew Goodacre, CEO of Bira, said: “These latest retail figures showcase the challenging landscape facing Britain’s high streets. While some sectors have fared better than others, the overall results are disappointing. Life on the high street remains an uphill battle.”
Non-Food sales decreased 2.4% year on year over the three-months to May, against a growth of 0.7% in May 2023. This is steeper than the 12-month average decline of 1.7%. For the month of May, Non-Food was in decline year-on-year.
The report showed that in-store Non-Food sales over the three months to May decreased 2.7% year on year, against a growth of 2.9% in May 2023. This is below the 12-month average decline of 1.1%.
“Small and independent retailers are particularly vulnerable, operating on slimmer margins. A failure to stimulate consumer spending and nurture an environment conducive to entrepreneurship could devastate many beloved local businesses. Robust policies are urgently needed to revitalise our high streets – the cornerstones of our towns and cities. By prioritising their revival, we safeguard livelihoods and preserve the very soul of our communities for generations to come,” he added.
