Retail Sales in July: A Tale of Two Worlds
July’s retail landscape looked more like a tug‑of‑war than a parade. In‑store sales grew by a modest 0.8% while online sales leapt forward with an impressive 8.3%. The gap between brick‑and‑mortar and e‑commerce has just gotten wider.
In‑Store vs Online: The Great Split
- Bricks‑and‑Mortar: +0.8% (vs +3.0% in July 2024)
- Online: +8.3% YoY
- Fashion: +1.3% in‑store vs +10.1% online
- Seventh straight month of falling in‑store figures
What’s Driving the Shift?
With food prices still dancing far above the average consumer’s budget, most people are tightening their wallets. Consumers are under big pressure—as Sophie Michael, Head of Retail and Wholesale at BDO, puts it.
“Shopping abroad and snacking on experiences have become the new normal during school holidays, so retail sales feel the squeeze,” she explained. “The trend shows that online retail is becoming the king of the high street while the economy itself is giving us a stern warning.”
Retailers’ Playbook for the Summer
- Focus on “lipstick effect” – small, affordable luxuries that brighten shoppers’ days.
- Keep the offering fresh: “If you can’t keep up with trends, you’ll be left behind.”
- Move summer stock fast: convert inventory into revenue before it turns into a fashion fossil.
- Embrace smooth online experiences so buyers feel as if they’re getting a deal on a radar.
August may not be the easiest month to lift sales, but creativity and speed will be everyone’s best allies along the road to recovery.
Stay Updated
Get real‑time updates on this category directly on your device—subscribe now and never miss a beat!
