Turning up the volumes
Retail sales in October 2016 grew by 6.6% year-on-year, the largest such increase since January 2011, with non-food stores leading the way. This growth suggests that, so far at least, the UK’s consumers haven’t been put off by worries about Brexit. Although the falling value of the pound in the second half of 2016 has created a headache for some businesses, the fast-growing sub-sector of online retailing may offer a way for them to keep their sales volumes healthy.
Sector at a glance
- £339 billion - The value of UK retail sales in 2015
- 15.2% - The proportion of retail sales made online
- 290,315 - The number of retail outlets in the UK