RETAIL IN NUMBERS
The below data provide official statistics, helping to explain the situation of the retail industry. The figures are sourced primarily from the Office for National Statistics, deriving data from national accounts, the Monthly Business Survey – Retail Sales Index and the Labour Market Survey. Insolvency data are provided by the Insolvency Service.
SALES
| Indicator | Statistics (2022) | Historical Average |
|
Total Sales in Value Terms
|
The total value of sales is £436bn (non-seasonally adjusted, ex. automotive fuel, current prices). |
The average growth rate between 2011-21 was 3.4%. |
|
Total Sales in Volume Terms
|
The total volume of sales is £398bn (seasonally adjusted, ex. automotive fuel, 2019 prices). |
The average growth rate between 2011-21 was 2.3%. |
|
Gross Value Added (GVA)
|
The Wholesale and Retail (ex. motor vehicles) industry generates £183bn (9% of the UK economy) when total input costs are subtracted from total revenue. |
The average growth rate 2011-21 was 1.6%. |
|
Online Sales % of Total Retail
|
The share of all retail sales taking place over the internet is 26.6%. |
The average between 2011-21 was 16.3%. |
EMPLOYMENT
| Indicator | Statistics (2022) | Historical Average |
|
Jobs
|
There are 3.05mn jobs in retail, accounting for close to 10% of all jobs in the British economy. |
The average between 2011-21 was 3.11mn jobs. |
|
Vacancies
|
Wholesale and retail vacancies numbered 160,000, 16.3% higher than in the period immediately preceding the pandemic. |
The average between 2011-21 was 105,000. |
|
Wage Growth
|
At 7.0% median payroll growth in wholesale and retail was above the UK average of 6.6%. |
The wholesale and retail average between 2015-21 was 4.0% and the UK average was 3.3%, per year. |
|
Productivity
|
Retail labour productivity was 0.8% lower than in 2021 and 7.3% higher than in 2019. The figures for the UK are, respectively, 0.4% and 2.7%. |
The average growth in retail productivity between 2011-21 was 1.2% and for the UK was 0.6%, per year. |
|
Redundancies
|
Wholesale and retail redundancies numbered 46,420. |
The average between 2011-21 was 78,299, per year. |
TAX
| Indicator | Statistics (2022-23) | Industry Rank (Out of 20) |
|
Corporation Tax
|
Wholesale and Retail businesses paid £8.7bn in Corporation Tax. |
3rd |
|
Value-Added Tax (VAT)
|
Wholesale and Retail businesses paid £38.4bn in Net Home VAT. |
1st |
BUSINESS DEMOGRAPHICS
| Indicator | Statistics (2023) | Historical Average |
|
Number of Registered Businesses
|
Wholesale and Retail businesses numbered 402,900. |
The average between 2013-21 was 374,964 registered businesses. |
|
Number of Employers
|
Wholesale and Retail employers numbered 196,075. |
NA |
|
Turnover
|
The turnover of Wholesale and Retail businesses was £1.29trn. |
NA |
|
Insolvencies and CVAs (2022)
|
Retail insolvencies numbered 1,901 and Company Voluntary Arrangements (CVA) numbered 10. |
The average between 2013-21 was 1,160 insolvencies and 23 CVAs, per year. |
REGIONS
|
Area |
Employment (2022) |
Pay (2022-23) |
Number of Businesses (2023) |
|
North-East |
107,000 |
£11.49 |
12,950 |
|
North-West |
310,000 |
£11.68 |
59,025 |
|
Yorks and Humber |
228,000 |
£11.23 |
46,180 |
|
East Midlands |
185,000 |
£11.42 |
53,945 |
|
West Midlands |
222,000 |
£11.46 |
48,050 |
|
East |
256,000 |
£11.47 |
47,665 |
|
London |
439,000 |
£13.11 |
93,705 |
|
South-East |
377,000 |
£11.76 |
70,670 |
|
South-West |
233,000 |
£11.26 |
43,450 |
|
Wales |
121,000 |
£11.42 |
25,800 |
|
Scotland |
227,000 |
£11.25 |
30,565 |
|
Northern Ireland |
87,000 |
£11.02 |
15,510 |