UK retail sales fell during in August as people
cut shopping to watch the Olympics, data released today show.
Sales fell 0.2% in August from July, according to the Office for National
Statistics (ONS). The ONS said the fall was driven by a fall in online sales, as
consumers watched the Olympics instead of shopping on the internet. However,
sporting goods and toy stores saw a sales boost from the Olympics and the new
Compared with a year earlier, sales volumes rose by 2.7% in August, said the
ONS. The non-food sector accounted for 2.2 percentage points (pp) of this
growth, the food sector 0.4 pp, retailers that sell mainly online or through
mail order (non-store retailing) provided 0.2 pp of the growth, while the fuel
sector provided a negative contribution of 0.1 pp.
In August 2012, for every pound spent on retail
goods approximately 42 pence was spent in the nonfood store sector, 41 pence in
the food sector, 12 pence in fuel stations and 5 pence in non-store retailing.
In August 2012, Internet sales (online sales for
all retailers) were estimated to be 8.1% of all retail sales (excluding
automotive fuel). This is a fall from 9.0% in July 2012 and the lowest
proportion since August 2011 (7.8%).
Check out our new
subscription service, Finfacts Premium
, at a low annual charge of €25 - - if
you are a regular user of Finfacts, 50 euro cent a week is hardly a huge ask to
support the service.
It's a simple fact that in the
prevailing economic climate, the provision of high quality content cannot be
sustained through advertising alone.
Business executives who put a
premium on time and value high quality information, should use our service.