- Vivian Hendriksz |
London - Apparel and footwear prices in the UK increased last month according to new data from the Office for National Statistics (ONS). Clothing prices grew 0.9 percent in July compared to June, as fashion retailers continue to struggle with costs following the fall out of the Brexit vote.
Although total UK retail sales to July 29 increased 0.7 percent value wise compared to June, apparel and footwear sales volumes decreased 0.5 percent in July compared to the previous month. In general, retail sales volumes across the UK market increased 0.3 percent during the same period.
Online fashion retailers continue to do well, as online clothing and footwear sales increased 11.9 percent year on year last month, accounting for 14.1 percent of total online retail. “It’s largely as we expected for July’s retail data,” commented Euan Murray, relationship director at Barclays on ONS retail sales figures. “Low growth, but the industry will be pleased that despite ongoing concerns regarding a slowdown in consumer spending the overall result shows that we are still in positive territory.”
“Looking more broadly at the retail landscape, it’s a really mixed picture, with cost challenges leading to higher prices for fashion, resulting in a dip in the quantity sold for that part of the sector. Footfall fell a little in July, with online sales again delivering well and making up some of the shortfall. I think we can expect a few more ups and downs in the coming months, as retailers battle the continuing pressures stemming from wider economic developments.”