Furniture retail sales decreased during October on last month and were also down against an annual comparison.
According to the latest data from the Office for National Statistics, furniture and lighting retail sales fell 10% to £1.25bn from £1.39bn in September. Compared to the previous year, sales were down 6% from £1.33bn.
Floorcovering retail sales decreased month-on-month, down by 10.6% to £275.7m from £308.4m. Compared to the same time last year, sales rose by 18% from £233.5m.
Retail sales volumes (quantity bought) are estimated to have fallen by 0.7% in October 2024, following a rise of 0.1% in September 2024. As for the value (amount spent), this was down 16.1% month-on-month to £40bn.
Non-food stores sales volumes – the total of department, clothing, household and other non-food stores – fell by 1.4% in October 2024, following a rise of 2.3% in September. Retailers across a range of industries suggested that low consumer confidence and uncertainty around the Budget announcement (which took place on 30 October 2024) affected sales.
The amount spent online, known as “online spending values”, fell by 1.2% during October 2024, but rose by 5.0% when compared with October 2023. Total spend – the sum of in-store and online sales – fell by 0.6% over the month. As a result, the proportion of sales made online decreased from 27.8% in September 2024 to 27.7% in October 2024.
Commenting on the retail sales figures for October, ONS senior statistician Hannah Finselbach said: “Retail sales fell back in October following three months of growth. The fall was driven by a notably poor month for clothing stores, but retailers across the board reported consumers held back on spending ahead of the Budget.
“However, when we look at the wider trend, retail sales are increasing across the three month and annual periods, although they remain below pre-pandemic levels.”
Responding to the latest ONS Retail Sales Index figures, Kris Hamer, Director of Insight at the British Retail Consortium, said: “While October produced a positive start to the ‘golden quarter’, with year-on-year growth for the fourth month in a row, there was a monthly decline due to pre-Budget jitters from households. Fashion took the brunt of this hit, especially as the milder weather last month put off winter purchases. Meanwhile, electricals performed well as people continued to upgrade their tech with the latest models. Health and beauty had yet another strong month of sales growth, especially with the popularity of beauty advent calendars which went on sale.
“This additional revenue is essential as retailers face over £7bn of additional costs in 2025 alone, as changes to Employers’ National Insurance contributions, the increase in minimum wage, and new packaging taxes come into effect. These changes will pile pressure onto an industry that already pays far more than its fair share in business taxes, and will make job losses and store closures inevitable. To avoid a cliff edge of costs in April 2025, Government must reconsider the existing timelines for the new packaging levy, while ensuring any changes to business rates offer a meaningful reduction for all retailers as early as possible.”
