BDO’s monthly High Street Sales Tracker has shown that like for like sales on the UK High Street for July grew by 1. 7 per cent on the previous year.
Fashion sales dropped by 0.7 per cent overall for the month, despite a strong start which saw sales increase by 3.75 per cent. This was in part due to planned seasonal discounting.
Homewares and lifestyle retailers enjoyed the best sales increases, with like for like figures up 10.8 per cent and 5.5 per cent respectively in July. Online sales also continued to perform well, with sales up 31.5 per cent.
Year on year growth in High Street retail sales has now been positive for the past five months.
"While the overall fashion figures have taken a dip this month, the like for like data doesn’t tell the whole story," said Sophie Bevan, head of retail and wholesale at BDO. "The bigger pictire shows that retailers are holding their resolve and responding to the upturn on the High Street – and are confident that shoppers are more willing to pay full price for the right products.
"This results in seasonal discounting being increasingly selective and planned. While in some areas we may be seeing less sales volume, improving margins supports long-term sustainable growth for retailers."
Bevan continued: "There will always be ups and downs on the High Street, which is sensitive to subtle changes – this is why the High Street is considered a bellweather of the UK economy. While fashion dips, homeware and lifestyle sales rise – showing that all retailers are playing the long game and the underlying sentiment is one of confidence and profitability."