BRC-KPMG Retail Sales Monitor October 2008: Worst Sales Figures For Three Years
UK retail sales values fell 2.2% on a like-for-like basis, from October 2007, when they had risen 1.0%. Total sales were lower than a year ago for the first time since April 2005.
As in previous months, food and drink was the only sector to show sales significantly up on a year ago. Clothing and footwear remained poor and often discount-driven, despite colder and much wetter weather than last October. Furniture and homewares fell further below year-earlier levels, despite further discounts and promotions.
Discounts and promotions continued but often failed to tempt customers unless they perceived value or the purchases filled a need.
Non-food non-store sales in October were 16.6% higher than year ago. Online sales fell on the days after the banking crisis hit, as consumers were anxious about their financial outlook.
