BRC reports jewellery sales growth in May 2016


The British Retail Consortium (BRC) and KPMG Retail Sales Monitor for May 2016 reports a growth in jewellery and watch sales versus last year, however it is the lowest since November.

The category has remained in fourth position in the rankings on a 12-month basis.

Helen Dickinson OBE, chief executive of the BRC, comments:  “Today’s figures bring better news for the UK’s retailers. After two months of flat sales, May saw growth of 1.4 per cent.

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“While still not spectacular, it is in line with the 12-month average of 1.5 per cent. However, with signs that the UK’s economy is slowing it’s unlikely that this is the beginning of a complete reversal of fortunes. The uncertain outlook means that customers will remain cautious with their spending, therefore we expect sales figures to remain volatile for the time being.

“While this month’s pick-up in sales will come as a welcome relief, it’s still a challenging time for retailers. Shop price deflation continues and intensity of competition is fierce. Controlling costs and improving efficiency and productivity will be crucial for retailers as they continue to navigate increasingly tough trading conditions.”

David McCorquodale, head of retail at KPMG, adds: “Overall, retail sales showed some improvement in the month, up 1.4 per cent in total versus May last year. Despite rain dampening the May Day mood, fashion sales finally lifted following a tough three months of trading for retailers. The appearance of some spring sunshine encouraged consumers to hit the sales and take advantage of early summer promotions.

“With a summer of sport kicking off in June and festival season getting underway, retailers will be hoping that the feel good factor coupled with a dose of summer sunshine will keep the tills ringing over the summer months.”

Tags : British Retail Consortium (BRC)David McCorquodaleHelen Dickinson OBEKPMGRetail Sales Monitor May 2016
Naida Redgrave

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