Retail sales fall despite World Cup and hot weather boosting alcohol and drinks trade – business live
Rolling coverage of the latest events in global financial markets, the economy and major corporate moves The retail sales data suggests that previous resilience among British consumers in the face of war and rising energy prices may be dropping off slightly, experts said. Even with the World Cup boosting the early part of the month, some have suggested that the hot weather may have…
The latest retail sales figures reveal a 0.5% decline in July, despite the World Cup and hot weather potentially boosting the alcohol and drinks trade. Experts suggest that British consumers' resilience in the face of war and rising energy prices might be waning. The decline could be attributed to the hot weather, which discouraged shoppers from venturing outside or buying seasonal products.
The World Cup, which concluded in early July, also limited the time for capitalizing on the warm conditions. Supermarkets saw an increase in sales due to the favorable weather and promotions, as did other retailers offering outdoor products, fans, clothing, and online sports merchandise.
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