Retail in Numbers

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 Historical Average

Total Sales in Value Terms

 

The total value of sales is £468bn (non-seasonally adjusted, ex. automotive fuel, current prices), in the 12 months to October 2024.

The average growth rate between 1987-2023 was 4.0%.

Total Sales in Volume Terms

The total volume of sales is £428bn (seasonally adjusted, ex. automotive fuel, 2022 prices), in the 12 months to October 2024.

The average growth rate between 1995-2023 was 2.0%.

Gross Value Added (GVA)

 

The Wholesale and Retail (ex. motor vehicles) industry generates £192bn (9% of the UK economy), in the four quarters to 2024 Q3, when total input costs are subtracted from total revenue.

The average growth rate 1991-2023 was 1.4%.

Online Sales % of Total Retail

 

The share of all retail sales taking place over the internet is 27.7%, as of October 2024.

The average between 2008-23 was 15.7%.


EMPLOYMENT


Indicator Statistics Historical Average

Jobs

There are 2.88mn jobs in retail, accounting for close to 10% of all jobs in the British economy, in the four quarters to 2024 Q2.

The average between 1978-2023 was 2.77mn jobs.

Vacancies

Wholesale and retail vacancies numbered 82,000, 31.7% lower than in the period immediately preceding the pandemic.

The average between 2001-23 was 108,000.

Wage Growth

At 8.5%, in September 2024, median payroll growth in wholesale and retail was above the UK average of 7.0%.

The wholesale and retail average between 2015-21 was 4.8% and the UK average was 4.1%, per year.

Productivity

Retail labour productivity in 2023 was 0.5% lower than in 2022 and 6.4% higher than in 2019. The figures for the UK are, respectively, +0.7% and +2.8%

The average growth in retail productivity between 1998-2022 was 1.0% and for the UK was 0.8%, per year.

Redundancies

Wholesale and retail redundancies numbered 49,524, in 2023.

The average between 2009-22 was 76,629, per year.


TAX


Indicator Statistics (2023-24) Industry Rank (Out of 20)

Corporation Tax

Wholesale and Retail businesses paid £8.9bn in Corporation Tax.

2nd

Value-Added Tax (VAT)

Wholesale and Retail businesses paid £38.4bn in Net Home VAT (2022-23).

1st


BUSINESS DEMOGRAPHICS


Indicator Statistics (2024) Historical Average

Number of Registered Businesses

Wholesale and Retail businesses numbered 452,060.

The average between 2013-21 was 374,964 registered businesses.

Number of Employers

Wholesale and Retail employers numbered 192,435.

NA

Turnover

The turnover of Wholesale and Retail businesses was £1.57trn.

NA

Insolvencies and CVAs (2023)

Retail insolvencies numbered 2,338 and Company Voluntary Arrangements (CVA) numbered 14.

The average between 2014-22 was 1,210 insolvencies and 21 CVAs, per year.


NATIONS AND REGIONS


Area

Employment (2023)

Pay (April 2024)

Number of Businesses (2023)

North-East

96,000

£12.29

12,950

North-West

312,000

£12.50

59,025

Yorks and Humber

210,000

£12.32

46,180

East Midlands

170,000

£12.49

53,945

West Midlands

219,000

£12.40

48,050

East

244,000

£12.45

47,665

London

387,000

£14.25

93,705

South-East

372,000

£12.71

70,670

South-West

242,000

£12.36

43,450

Wales

115,000

£12.25

25,800

Scotland

223,000

£12.23

30,565

Northern Ireland

87,000

£11.96

15,510


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 Historical Average

Total Sales in Value Terms

 

The total value of sales is £468bn (non-seasonally adjusted, ex. automotive fuel, current prices), in the 12 months to October 2024.

The average growth rate between 1987-2023 was 4.0%.

Total Sales in Volume Terms

The total volume of sales is £428bn (seasonally adjusted, ex. automotive fuel, 2022 prices), in the 12 months to October 2024.

The average growth rate between 1995-2023 was 2.0%.

Gross Value Added (GVA)

 

The Wholesale and Retail (ex. motor vehicles) industry generates £192bn (9% of the UK economy), in the four quarters to 2024 Q3, when total input costs are subtracted from total revenue.

The average growth rate 1991-2023 was 1.4%.

Online Sales % of Total Retail

 

The share of all retail sales taking place over the internet is 27.7%, as of October 2024.

The average between 2008-23 was 15.7%.


EMPLOYMENT


Indicator Statistics Historical Average

Jobs

There are 2.88mn jobs in retail, accounting for close to 10% of all jobs in the British economy, in the four quarters to 2024 Q2.

The average between 1978-2023 was 2.77mn jobs.

Vacancies

Wholesale and retail vacancies numbered 82,000, 31.7% lower than in the period immediately preceding the pandemic.

The average between 2001-23 was 108,000.

Wage Growth

At 8.5%, in September 2024, median payroll growth in wholesale and retail was above the UK average of 7.0%.

The wholesale and retail average between 2015-21 was 4.8% and the UK average was 4.1%, per year.

Productivity

Retail labour productivity in 2023 was 0.5% lower than in 2022 and 6.4% higher than in 2019. The figures for the UK are, respectively, +0.7% and +2.8%

The average growth in retail productivity between 1998-2022 was 1.0% and for the UK was 0.8%, per year.

Redundancies

Wholesale and retail redundancies numbered 49,524, in 2023.

The average between 2009-22 was 76,629, per year.


TAX


Indicator Statistics (2023-24) Industry Rank (Out of 20)

Corporation Tax

Wholesale and Retail businesses paid £8.9bn in Corporation Tax.

2nd

Value-Added Tax (VAT)

Wholesale and Retail businesses paid £38.4bn in Net Home VAT (2022-23).

1st


BUSINESS DEMOGRAPHICS


Indicator Statistics (2024) Historical Average

Number of Registered Businesses

Wholesale and Retail businesses numbered 452,060.

The average between 2013-21 was 374,964 registered businesses.

Number of Employers

Wholesale and Retail employers numbered 192,435.

NA

Turnover

The turnover of Wholesale and Retail businesses was £1.57trn.

NA

Insolvencies and CVAs (2023)

Retail insolvencies numbered 2,338 and Company Voluntary Arrangements (CVA) numbered 14.

The average between 2014-22 was 1,210 insolvencies and 21 CVAs, per year.


NATIONS AND REGIONS


Area

Employment (2023)

Pay (April 2024)

Number of Businesses (2023)

North-East

96,000

£12.29

12,950

North-West

312,000

£12.50

59,025

Yorks and Humber

210,000

£12.32

46,180

East Midlands

170,000

£12.49

53,945

West Midlands

219,000

£12.40

48,050

East

244,000

£12.45

47,665

London

387,000

£14.25

93,705

South-East

372,000

£12.71

70,670

South-West

242,000

£12.36

43,450

Wales

115,000

£12.25

25,800

Scotland

223,000

£12.23

30,565

Northern Ireland

87,000

£11.96

15,510