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UK retail sales boosted by shop promotions UK retail sales boosted by department store discounts and promotions
(about 1 hour later)
Heavy discounting and promotions at department stores helped pull in cash-strapped consumers and push up retail sales last month, official figures show.Heavy discounting and promotions at department stores helped pull in cash-strapped consumers and push up retail sales last month, official figures show.
Retail sales volumes increased 1.4% in May, following a revised 2.4% drop in April, the Office for National Statistics (ONS) said. City analysts had expected a rise of around 0.8%.Retail sales volumes increased 1.4% in May, following a revised 2.4% drop in April, the Office for National Statistics (ONS) said. City analysts had expected a rise of around 0.8%.
The increase was driven primarily by a 6.2% surge in fuel sales, as March's fuel strike threat continued to have an impact, but there was evidence that a fall in prices at department stores also lifted volumes. Stripping out the impact of fuel, total retail sales volumes increased by 0.9%.The increase was driven primarily by a 6.2% surge in fuel sales, as March's fuel strike threat continued to have an impact, but there was evidence that a fall in prices at department stores also lifted volumes. Stripping out the impact of fuel, total retail sales volumes increased by 0.9%.
The rate of inflation has fallen back throughout 2012, from a 5.2% peak last September to 2.8% in May, as weak economic growth has weighed on company's pricing power. The rate of inflation has fallen back throughout 2012, from a 5.2% peak last September to 2.8% in May, as weak economic growth weighed on pricing power.
Total retail sales plunged in April as heavy rain hit clothing and footwear retailers.Total retail sales plunged in April as heavy rain hit clothing and footwear retailers.
A bright spell of sunshine later in May had a small impact on the clothing sector, the ONS said, which rebounded after a dismal April to record 3.4% growth in sales volumes.A bright spell of sunshine later in May had a small impact on the clothing sector, the ONS said, which rebounded after a dismal April to record 3.4% growth in sales volumes.
Non-specialised stores - or department stores, such as John Lewis and House of Fraser - saw volume growth of 0.8% on the month and 11.3% when compared with May last year. Non-specialised stores – or department stores, such as John Lewis and House of Fraser – saw volume growth of 0.8% on the month and 11.3% when compared with May last year.
The ONS estimates that the price of goods in department stores on average have fallen 2% in the last 12 months.The ONS estimates that the price of goods in department stores on average have fallen 2% in the last 12 months.
Discounting and promotions were also seen in so-called other stores, a broad category including computers, books and newspapers and toiletries and cosmetics. Discounting and promotions were also seen in 'other' stores, a broad category including computers, books and newspapers, and toiletries and cosmetics.
Food sales had a weak month, growing just 0.2%, but the survey period ended on 26 May and did not include the final run-up to the Queen's Diamond Jubilee, which is expected to boost sales in June's survey.Food sales had a weak month, growing just 0.2%, but the survey period ended on 26 May and did not include the final run-up to the Queen's Diamond Jubilee, which is expected to boost sales in June's survey.
Non-store retailing volumes, which include internet sales, increased 1.5% on the month.Non-store retailing volumes, which include internet sales, increased 1.5% on the month.
Consumers spent £26.4bn in May compared with £26bn in the previous month.Consumers spent £26.4bn in May compared with £26bn in the previous month.
The average weekly amount spent online is now up 22% when compared with a year ago, at £510.9m. The average weekly amount spent online is now up 22% compared with £510.9m a year ago.