British Retailers Have Had A Record Quarter

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British retailers’ sales rose at their fastest ever pace in the second quarter, as UK consumers resume spending due to easing coronavirus restrictions.

 

They previously kept their hands on the purse strings because of the lockdowns, but now that the economy is recovering strongly from the crisis and confidence is increasing, the retail sector is buying heavily again.

According to the British Retail Consortium (BRC) retail trade association, sales rose by more than 28 percent year-on-year, the most significant increase since the measurements began in 1995. Moreover, compared to 2019, i.e. before the corona crisis, this was a turnover increase of more than 10 percent.

For example, more summer clothing and footwear were sold last month, and the European Football Championship resulted in higher sales of televisions, snacks and beer.

The BRC does warn that the retail sector is not there yet; for example, there are still far fewer foreign tourists to the United Kingdom than before the pandemic. According to the organisation, shopkeepers in city centres are also missing out on income due to the lack of commuters due to the many working from home.

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