Sales of household goods see sharpest monthly rise since 2021

The sale of household goods jumped by 6.8 per cent in February, their largest monthly rise since April 2021.

According to the latest ONS retail figures, hardware stores made the largest contribution to the hike in sales.

Across the month, overall retail sales volumes are estimated to have increased by one per cent, following a rise of 1.4 per cent in January.

Aside from household goods, department stores, clothing, and other non-food categories demonstrated strong performance, all rising over the four-week period.

Supermarkets however had the largest downward contribution, with retailers blaming the poor performance economic factors such as increasing prices.

Food store sales declined by two per cent during the month following a rise of 4.8 per cent in the previous month.

ONS said that within other non-food stores, watches and jewellery stores grew strongly over the month, retailers in this industry reporting increased demand for gold because of wider economic uncertainty.

While clothing stores saw sales rise in February, they still did not fully recover from their 2.7 per cent fall in January. Higher sales may have been impacted by increased discounting and falling clothes prices.

“Following a strong start to the year, the retail industry’s resilience was evident again in the latest ONS figures, with modest sales growth in February, particularly online," said Asif Aziz, retail director at EE. "At EE, we saw high demand for home broadband and AI-enabled products, as consumers continue to explore connected technology."

Aziz said that a growth in online sales, which were up across all sectors following a poor January, reinforces the need for investment in digital transformation as well as experiential retail.

"As we approach March, we expect steady sales as customers keep an eye on their spending, budgeting for bigger purchases come spring and summer," he continued.

Erin Brookes, European retail and consumer lead at consultancy Alvarez & Marsal said that retail sales "surprised again" in February.

"As we move into Spring, retailers will be hoping that the early March sunshine is the start of a period of growth, and that demand across Easter, DIY, summer fashion and outdoor items will sustain revenues," she said. "However, strong sales have not taken the sting out of the upcoming policy changes, with retailers footing the bill for minimum wage and National Insurance contribution increases."

Brookes went on to say that chancellor Rachel Reeve's Spring Statement did "little to ease these pressures", with uncertainty around business rates persisting.

"The Chancellor's message will likely hit consumer confidence further as the government makes more spending cuts and growth remains sluggish," added the retail lead. In the face of this, many retailers are taking pre-emptive action, via cost cutting and price increases."



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