The UK published figures on the economy showing an overall retail growth of just 0.3%, the lowest figure for July since 1995. During this period food sales decreased 1% on a like-for-like basis.
Information from CESA members indicates Q2 saw a decrease in sales between 10-15% with many retail sectors having stalled entirely. However, the brewery/pub market didn’t follow this trend and had some areas of expansion.
Keith Warren, CESA director, said: “These findings reflect what the latest government figures are saying. They are further evidence that the market is rather unstable at the moment.
“Certainly Brexit, or rather the continued uncertainty surrounding it, is part of the problem. We are at the heart of representing the issues with ministers and the civil service and are communicating the developments to members.”
The service and spares industry remains strong as equipment is being repaired rather than replaced. Sales of light equipment are also high, indicating that consumer spending appears to be holding well with significant inbound tourism due to the declining value of the pound.