UK retail sales volumes dropped -1.2% mom in July, much worse than expectation of -0.4% mom. Ex-automotive fuel sales volume dropped -1.4% mom. In value term, sales dropped -1.0% mom while ex-fuel sales contracted -1.4% mom.
Food stores sales volumes fell by -2.6% mom. Non-food stores sales volumes fell by -1.7% mom. Automotive fuel stores sales volumes rose by 0.7% mom. Non-store retailing sales volumes rose by 2.8% mom.
ONS also noted, shoppers switching to online shopping because of poor weather and increased promotions led to 27.4% of retail sales taking place online in July 2023, up from 26.0% in June 2023; this is the highest proportion since February 2022 (28.0%).
