Footwear remains strongest sector in UK retail
04/09/2012
Figures published by the British Retail Council (BRC) and accountancy KPMG show that footwear has been the best-performing of the seven sectors analysed since the start of the year.
Anne Alexandre, a senior analyst at BRC, said: “This time it was led by women’s rather than men’s [footwear], with some retailers anticipating the trend by increasing inventory on key lines like pumps and prolonging the sale period into August. The unsettled weather meant transitional products did well but there was demand across the board from boots to sandals.
“London stores suffered from lower footfall due to the Olympics but that was offset by better sales in greater London. Online continued to grow – with some retailers offering new services – albeit with many more visits than actual purchases.”
Footwear was compared with food and drink, clothing, house textiles, furniture and flooring, home accessories and other non-food.
However, overall, consumer spending in the UK was down 0.4% in August, due in part to the Olympics, analysts said.
Helen Dickinson, head of retail at KPMG, said: “Retailers’ hopes that the Olympics would inspire a pick-up in spending were dashed as shoppers stayed away from the high street and enjoyed the sporting spectacle from their armchairs. While, without doubt, the Olympics brought a much-needed boost to consumer confidence, the country was ‘otherwise engaged’ in August and the sales figures show a mixed picture.
“However, it could have been much worse. August is traditionally a weak month for sales and it’s really the next three months that will have a critical impact on retailers’ profitability.”
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