Furniture retail sales increased during September on last month but were down against an annual comparison.
According to the latest data from the Office for National Statistics, furniture and lighting retail sales rose 27% to £1.38bn from £1.08bn in August. Compared to the previous year, sales were down 12% from £1.57bn.
Floorcovering retail sales increased month-on-month, up by 23.5% to £309.2m from £250.2m. Compared to the same time last year, sales rose by 13.2% from £273.1m.
Retail sales volumes (quantity bought) are estimated to have risen by 0.3% in September 2024, following a rise of 1.0% in August 2024. As for the value (amount spent), this was up 23% month-on-month to £48bn.
Non-food stores sales volumes – the total of department, clothing, household and other non-food stores – rose by 2.5% in September 2024, following a rise of 0.6% in August. The strongest sub-sector growth was from other non-food stores, which rose by 5.5% over the month to September 2024. Within “other non-food”, computer and telecommunications retailers had the strongest contribution to growth.
The amount spent online, known as “online spending values”, rose by 1.3% during September 2024, and by 6.7% compared with September 2023. Total spend – the sum of in-store and online sales – rose by 0.1% over the month. As a result, the proportion of sales made online increased from 27.5% in August 2024 (revised down from 27.6%) to 27.7% in September 2024.
Commenting on the retail sales figures for September, ONS senior statistician Hannah Finselbach said: “Retail sales grew in September as tech stores reported a notable rise in sales. These were only partially offset by a poor month for supermarkets, where retailers said bad weather and households continuing to cut back on luxury food items hit sales.
“Looking at the broader picture retail sales increased across the third quarter as a whole, with growth seen from all main shop types.”
Responding to the latest ONS Retail Sales Index figures, Kris Hamer, Director of Insight at the British Retail Consortium, said: “September saw the strongest retail sales growth since January, and the highest sales volume since March 2022. This was thanks to areas such as clothing and computing performing particularly well, as autumn led people to upgrade their wardrobe as well as the last minute student dash for new computers as the new academic year began. Big ticket items, such as furniture and other household goods continued to take the hit from some consumers, such as those saving for Christmas or preferring to spend their money on experiences.
“While the growth in sales is welcome, retailers are nervously waiting for the Budget to see if they are going to be whacked by more costs, particularly trailed changes to Employer National Insurance contributions, as well as the inflationary increase to business rates coming next year. These changes would add more pressure to an industry that already pays far more than its fair share in business taxes. The Chancellor should use the Budget to level the playing field with other parts of the economy, introducing a Retail Rates Corrector, a 20% downwards adjustment to the business rates bills of all retail properties. This would help drive investment and economic growth, supporting jobs, shops, high streets and communities.”
