SCOTTISH retail sales volumes stagnated during the third quarter, in contrast to a rise in Great Britain as a whole, the latest official figures show.
The seasonally adjusted figures, published yesterday by the Scottish Government, show the value of sales north of the Border grew by 0.4 per cent quarter-on-quarter in the three months to September as consumers spent more to purchase the same amount of retail goods.
In Great Britain as a whole, retail sales volumes in the third quarter were 0.6 per cent higher than in the previous three months. The value of retail sales in Great Britain rose by 1.2 per cent during the third quarter.
Monthly figures published by the Scottish Retail Consortium (SRC) have consistently shown weaker year-on-year movements in sales value north of the Border than in the UK as a whole. The SRC has highlighted the part that strength in London and south-east England has played in boosting overall UK retail sales.
Ewan MacDonald-Russell, head of policy at the SRC, said: “Retailers will be disappointed to see anaemic sales value growth as they prepare for the crucial run-up to Christmas. When combined with flat sales volumes, the evidence shows Scottish retail sales appear to be stuck in the doldrums. With overall inflation rising, and the possibility of rising interest rates and potential tax rises, consumer confidence is understandably fragile, and these figures will at least partly reflect that.”
He added: “Considering the crucial importance of consumer spending to Scotland’s economic growth, the Scottish Government should be paying close attention to their own statistics and carefully considering how they can encourage customers to continue shopping.”
The stagnation of retail sales volumes in Scotland in the third quarter followed growth of 1.2 per cent in the three months to June. Scottish retail sales volumes in the third quarter were up by 0.6 per cent on the same period of last year. The value of sales rose by 3.3 per cent year-on-year in the third quarter, and average retail store prices, indicated by the implied deflator, increased by 2.6 per cent.
The figures signal small and medium-sized retailers, with fewer than 250 employees, fared better than their larger counterparts during the third quarter.
Small and medium-sized retailers in Scotland recorded a 0.9 per cent quarter-on-quarter rise in sales volumes in the three months to September. Large retailers posted a 0.4 per cent fall in sales volumes.
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