ONS Retail Sales October 2024

Retail sales (value, non-seasonally adjusted, exc. fuel) rose by 1.7% year-on-year (YoY) in October according to the latest ONS data. It compares to a 4.1% uplift a year earlier, during higher levels of inflation.
In volume terms (non-seasonally adjusted, exc. fuel), retail sales accelerated to 1.9% YoY growth in October. It compares to a 2.1% decline a year ago.
It should be noted that ONS figures are based on a sample of some 5,000 retailers and are subject to revisions.

Volume growth edges up in October

Source: ONS, Retail Economics analysis

Note: all retail sales figures provided below are non-seasonally adjusted, excluding Fuel, unless stated otherwise.

Food and non-food

Food sales declines deepened in October, with values down by 1.5% YoY. This compares to a strong 7.9% rise a year earlier during high inflation. Adjusting for inflation, volumes dipped by 2.8% in October against a weak 1.3% decline in the previous year.
Growth of Non-food sales values softened to 4.1% in the month compared to flat sales in the previous year. In volume terms, non-food sales growth eased to 5.2% in October against a 4.3% decline a year earlier, with sales volumes broadly at 2022 levels.
Clothing sales volumes plunged 3.4% in October, following a 2.5% declines a year earlier. Footwear and Leather Goods volumes slipped into decline (-1.6%) following three months of growth.
Household Goods sales values declined by 0.6% in October as prices decline, but volumes edged up by 0.7%. This was supported by growth across Hardware and Paints, while declines across big ticket Furniture and Lighting volumes eased to -5.7%.
Pharmaceuticals, Cosmetics and Toiletries continued to outperform, with volume growth up by 7.5% in October, marketing its strongest rate since July.

Online

Online sales values rose by 5.0% YoY in October, against an 7.3% rise a year earlier.
Declines in Household Goods eased to -7.7% in October, while growth in Clothing & Footwear softened to 1.9%.
Non-store retailing (a proxy for pureplay retailers) rose by 1.8% YoY in the month, against a 6.6% increase a year earlier.
The proportion of retail sales made online edged up to 27.6% in October, up from 26.7% a year earlier.
Overall, average weekly online sales were £2.52bn in October, up from £2.40bn in the previous year.

Retail sales price deflator

The retail sales deflator (a measure of inflation specific to retail) remained in deflation in October, down by 0.3% YoY when excluding fuel, and declined by 1.6% when including fuel.
The implied price deflator among food edged up to 1.4% in October, against a 9.0% rise in the previous year. Among non-food stores, the price deflator remained in deflation at -1.0%.