Drinks sector shows growth amid retail downturn
The food and drinks sector is the only one to have shown "significant growth" compared to 2007, according to new British Retail Consortium (BRC) figures out today.
The food and drinks sector is the only one to have shown "significant growth" compared to 2007, according to new British Retail Consortium (BRC) figures out today.
The popularity of beers and wines in promotions have helped sales to remain strong, though July's growth was against a slight fall last July, and the impact of higher commodity prices continue to inflate sales growth, says the BRC.
"We are seeing premium brands strengthen as well as the value end of the market as people sharpen their shopping skills, seeking out the best prices and promotions available to suit their individual needs." Comments Joanne Denney-Finch, chief executive of retail analysts IDG.
Overall, UK retail sales values fell 0.9% on a like-for-like basis, compared with July 2007, when they had risen only 1.2% because of wet weather. Sales have now been lower than a year ago in four of the past five months, the worst since summer 2005.
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