The ONS' May 2018 retail sales revealed significant growth compared to April 2018, thanks in part to better weather and the Royal Wedding, according to accountancy firm Wilkins Kennedy LLP.
The quantity bought in the retail industry increased by +1.3% MoM, with growth across all main sectors – a sharp YoY increase at +3.9%, compared with April's +1.4%, possibly due to a combination of warm weather and weak comparatives.
Non-store retailing showed strong growth in the quantity bought, up +16.2% YoY.
Phil Mullis, partner and head of retail and wholesale at Wilkins Kennedy, says: “It was pleasing to see a good amount of growth in the retail sector, thanks in part to the Royal Wedding and an improvement in the British weather. However, this is not a sustainable way to maintain growth and more needs to be done to make sure retailers are keeping up with the fundamental change that is going on in the industry.
“Looking forward to June, let’s hope the good weather continues and that the World Cup and a positive England performance brings improved consumer confidence and some further growth in the sales figures.”
