PEG- Retail Sales figures from the Office of National Statistics have been released.
Footfall has declined 1.0 per cent but the overall sales of textile, clothing and footwear increased.
Official figures today reveal promising news for retailers. Data from the Office of National Statistics show sales figures to be considerably higher than the same period last year. With the weather set to take a turn for the worse and more people feeling a pinch in their pockets, online shopping sales have surged as people look for good deals.
The value of retail sales in October 2011 showed an increase of 5.4 per cent compared with October 2010. The total sales volumes in October 2011 increased by 0.9 per cent, in comparison to the same time last year. Further figures revealed that small stores sales figures increased by 5.3 per cent while larger stores, sales figures decreased by 0.3 per cent. Once again, online trading increased its share of total retail, the average weekly spend on online retailing increased to £561.5 million up from £518.7 million in September 2011. Textile, clothing and footwear sales volumes fell by 1.0 per cent however sales value increased by 2.6 per cent over the same period. These figures bode well for retailers, giving them a much needed life line in the in the run up to Christmas.
Kevin Flood, CEO of social shopping leader Shopow (www.shopow.co.uk) said, “Retailers that were desperately in need of a reversal of their fortunes have found that they now have an encouraging platform on which to build in the run up to Christmas. High street stores have had to pull out all the stops to make their shops attractive by reducing prices early and creating imaginative promotions to increase footfall and more activity at the tills. It is still far from plain sailing and there is still a lot of pressure on retailers. As long as business and consumer confidence remains low, the battle will continue to persuade shoppers to return in their droves.
“Online activity has emerged as a vital area that will only continue to grow in importance over Christmas. We are expecting a significant amount of Christmas activity online and those who have introduced innovative shopping tools that make shopping easier and more cost effective will capitalise.”
Social shopping has emerged as an exciting trend in online retailing as many high street stores look to engage consumers. It involves the use of social networking to share recommendations, share discounts, post reviews and ask for advice on products before purchase.
Mike Harty COO of Shopow said “Regular web shoppers are now empowered to talk about their purchases in an honest way. Social shopping with Shopow enables shoppers to use their trusted networks to make informed decisions but also makes online shopping more interactive and enjoyable.”