Jewellery sales grow at fastest rate in five months

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During the five weeks between November 29 and January 2, total jewellery and watches sales grew at its fastest rate in five months.

According to the latest British Retail Consortium Retail Sales Monitor report, jewellery and watches were placed 4th in the total sales sector performance rankings table.

This result was an impressive one given the tough comparisons set by strong December sales growth in 2014.

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Overall UK retail sales rose by 0.1% across all categories (food and non-food) on a like-for-like basis from December 2014, when they had decreased 0.4% from the preceding year. On a total basis, sales were up 1.0%, against a 1.0% rise in December 2014.

On a three-month basis, total non-food sales were up 1.5%, the weakest growth since January 2013.

However, online sales of non-food products in the UK grew 15.1% in December versus a year earlier, when they had grown 7.0%. The non-food online penetration rate was 19.7%, up 2.4 percentage points from December 2014.

Helen Dickinson, chief executive, British Retail Consortium, comments: “2015 drew to a disappointing close for retailers, with December seeing just 1 per cent sales growth, notwithstanding the strong underlying momentum of an improving consumer environment buoyed by rising real incomes, low inflation and low unemployment.

“Online performed strongly as consumers embraced the convenience and flexibility that more sophisticated retailers offered. Nevertheless, the boost from online was not enough to make this a Christmas to remember for most retailers. The three month rolling total sales across all categories was the weakest for the entire year, with only 0.9 per cent growth, while non-food saw its slowest performance since January 2013.”

 

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