Sales remain afloat amidst stormy January

Responding to the latest ONS Retail Sales Index figures, which showed sales up 2.6% by value, and up 1.2% by volume, Kris Hamer, Director of Insight at the British Retail Consortium, said:
 
“2025 got off to a good start with retail sales managing to weather the stormy January. Retailers put on extensive promotions, and customers who were looking to upgrade their furniture and household electrical appliances made the most of the many bargains that there were to be had. But, with consumer expectations for the economy falling almost 40pts since July 2024 and an unsteady job market, the next few months are hard to predict.

“This boost to sales barely touches the sides of the £7bn in new costs from the Budget and packaging levy facing the industry this year. The industry is already paying more than its fair share of tax and with retailers already doing all they can to absorb existing costs, retailers will be left with little choice but to increase prices or reduce investment in jobs and shops, or both. To mitigate this, Government must ensure that its proposed business rates reform does not result in any shop paying higher rates than they already do.”