ONS Retail Sales September 2024

Retail sales (value, non-seasonally adjusted, exc. fuel) rose by 3.6% year-on-year (YoY) in September according to the latest ONS data. It compares to a 5.4% uplift a year earlier, during higher levels of inflation.
In volume terms (non-seasonally adjusted, exc. fuel), retail sales accelerated to 4.0% YoY growth in September. It compares to a weak 1.7% decline a year ago.
It should be noted that ONS figures are based on a sample of some 5,000 retailers and are subject to revisions.

Modest volume growth in September

Source: ONS, Retail Economics analysis

Note: all retail sales figures provided below are non-seasonally adjusted, excluding Fuel, unless stated otherwise.

Food and non-food

Food sales slipped into decline in September, with values down by 0.2% YoY rise in September. This compares to a strong 9.0% rise a year earlier during high inflation. Adjusting for inflation, volumes dipped by 1.4% in September against a weak 1.3% decline in the previous year.
Non-food sales values surged by 6.9% in the month compared to a 1.8% rise in the previous year. In volume terms, non-food sales jumped 8.0% in September against a 2.9% decline a year earlier.
Non-food sales were supported by strong growth across computer and telecommunication retailers, although big ticket home spending remains under pressure.
Electrical Households Appliances rebounded 4.9% in September, following a 4.2% decline a year earlier.
Pharmaceuticals, Cosmetics and Toiletries volume growth was up by a robust 3.9% rose by 2.2%, albeit against a weak comparative (-0.3% in September 2023).
Clothing sales volumes edged up by 1.6% YoY in September, compared to a 3.4% decline a year earlier. Footwear and Leather Goods volume growth accelerated to 4.0% against a strong 13.0% rise a year earlier.
Household Goods remain under pressure, although volume declines eased to -0.4% in September. Big ticket Furniture and Lighting volumes remain in double-digit decline, down by 11.1% in September.

Online

Online sales values rose by 7.1% YoY in September, against an 8.2% rise a year earlier.
Household Goods remained in double-digit decline, with sales values down by 10.1% against a strong 22.9% rise last year, while Clothing & Footwear growth accelerated to 5.7%.
Non-store retailing (a proxy for pureplay retailers) rose by 4.4% YoY in the month, against a 6.6% increase a year earlier.
The proportion of retail sales made online was 26.8% in September, up from 25.9% a year earlier.
Overall, average weekly online sales were £2.34bn in September, up from £2.18bn in the previous year.

Retail sales price deflator

The retail sales deflator (a measure of inflation specific to retail) slipped into deflation September, down by 0.3% YoY when excluding fuel, and declined by 1.3% when including fuel.
The implied price deflator among food remained at 1.2% in September, against a 10.5% rise in the previous year. Among non-food stores, the price deflator slipped deeper into deflation at -1.1%.