October 27, 2021
According to The UK Office for National Statistics, during September 2021, retail sales volumes fell by 0.2%, when compared to August 2021, however 4.2% higher than in February 2020, before the impact of coronavirus. The movement is primarily due to a decrease in the largest contributor ‘Non-food stores’ by 0.5% in sales volumes, which is as a result of a 9.3% fall in household goods stores, such as furniture and lighting stores.
However, food stores sales volumes increased by 0.6% in September 2021, rebounding from a fall of 1.4% in August. Also, food sales volumes were 3.9% above pre-covid levels in February 2020. Automotive fuels sales volumes rose by 2.9% in September 2021, compared to August 2021, following an increased demand at the end of September. September volumes for Automotive fuels were above February 2020’s 1.8%. “In feedback from retailers, while many noted increased turnover during the last week of September resulting in increased sales over the month, other fuel retailers confirmed issues with deliveries and shortages at sites which had a downward impact on the value of their fuel sold over the month,” as noted by the Office for National Statistics.
Additionally, online spending values increased in September 2021 by 0.5% when compared with August 2021 and higher than pre-covid proportion of 19.7% in February 2020. This was largely because of an increase in department stores sales value by 3.8%. The monthly increase in online spending values resulted in a slight increase in the proportion of online sales, which increased to 28.1% in September 2021, from 27.9% in August.
Disclaimer:
Analyst Certification -The views expressed in this research report accurately reflect the personal views of Mayberry Investments Limited Research Department about those issuer (s) or securities as at the date of this report. Each research analyst (s) also certify that no part of their compensation was, is, or will be, directly or indirectly, related to the specific recommendation(s) or view (s) expressed by that research analyst in this research report.
Company Disclosure -The information contained herein has been obtained from sources believed to be reliable, however its accuracy and completeness cannot be guaranteed. You are hereby notified that any disclosure, copying, distribution or taking any action in reliance on the contents of this information is strictly prohibited and may be unlawful. Mayberry may effect transactions or have positions in securities mentioned herein. In addition, employees of Mayberry may have positions and effect transactions in the securities mentioned herein.
