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Insider UK
Insider UK
Business
Peter A Walker

Bank holidays boost Scottish retail sales

Total retail sales in Scotland increased by 10.9% year-on-year in May, rising above both the three and 12-month average.

The latest Scottish Retail Consortium (SRC) and KPMG figures showed that Scottish sales increased by 7.7% on a like-for-like basis compared with May 2022, when they had increased by 0.3%.

Total food sales rose by 16.2% versus last May, when they had increased by 1.8%, while total non-food sales increased by 6.5%.

Adjusted for the estimated effect of online sales, total non-food sales increased by 5.1% last month, versus May 2022, when they had decreased by 2.6%.

Ewan MacDonald Russell, head of policy at the SRC, explained that Scottish shoppers took to the high street during this May's additional bank holidays, while sunny weather also helped to restart spending.

“Sales were up 2% in real terms, with most of the growth coming in clothing and footwear as consumers freshened up wardrobes with spring and summer lines.

“The value of food sales continue to increase enormously, driven by near record food inflation,“ he continued, adding: “Grocery sales saw a rise in food and drink aimed at larger gatherings and al fresco dining as the extra holidays encouraged socialising outdoors following a very dreich March and April.”

Paul Martin, UK head of retail at KPMG, stated: “Retailers will be pleased to see overall sales figures up 10.9% on last year, which is the highest level of monthly growth this year, and far higher than the comparative overall UK growth figure of 3.9%.

“Scottish consumers are resilient, but with stubbornly high food inflation continuing and the prospect of further interest rate rises threatening to impact their ability to spend elsewhere, it is likely to be a long, hot summer for the retail sector.”

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