Online sales accounted for 15.2% of all retail spending in October.
Commenting on October’s ONS retail sales figures, Paul Martin, UK head of retail at KPMG, said:
“Retail sales volumes in October soared by 7.4% on last year, the highest rate of growth seen in 14 years. Halloween and a U-turn in fashion sales prompted by colder weather are likely to be the biggest contributors behind the boost.
“Online sales accounted for 15.2% of all retail spending in October, up on last year, with one the biggest year-on-year growths seen in household goods stores selling furniture, lighting and other household appliances. It seems shoppers are turning their attention indoors in the run-up to Christmas and are increasingly more comfortable logging-on as opposed to hitting the high street in the colder weather.
“The latest figures note the smallest decrease in average store prices since July 2014 - hinting at the increased prices we are likely to see in the coming months, as retailers grapple with increased costs pressing on their margins in the current environment. The next two months will be critical for retailers, with Black Friday providing the next major opportunity to maintain the momentum of sales in the run-up to Christmas.”
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