Retailers hoping for summer boost after ‘mediocre’ May, industry body says
Total sales fell by 0.5% in real terms between last month and May 2023.
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Retail sales in Scotland fell by 0.5% last month compared to May 2023 when adjusted for inflation, new figures have shown.
After May turned out to be a “mediocre month” for Scotland’s high streets, retailers are pinning their hopes on a boost from upcoming events including the Euros and Olympics, the Scottish Retail Consortium (SRC) said.
The latest SRC-KPMG Scottish retail sales monitor for April 28 to May 25 found although total sales in Scotland rose by 0.1% compared with May last year when they had grown 10.9%, when adjusted for inflation this was a drop of 0.5% year on year.
The slight fall is likely a consequence of comparison with a strong 2023 performance
Food sales last month rose 1.1% compared to May 2023, when they jumped by 16.2%, but non-food sales, including online, fell by 0.2% in the same period.
SRC deputy head Ewan MacDonald Russell said: “May turned into a mediocre month for Scottish retail sales, which fell by 0.5% in real terms compared to the previous year.
“The slight fall is likely a consequence of comparison with a strong 2023 performance, where the King’s coronation and two bank holidays encouraged shoppers to splash out, compared to this year where the splashing was more to do with the miserable weather.
“Food and drink sales continue to grow, albeit in a more modest manner now food price inflation has stabilised.
“Technology sales did well, boosted by a combination of new products alongside many early pandemic purchases now requiring replacement. Beauty and casual clothing ranges performed reasonably, albeit with little sign shoppers were buying more formalwear.
“Looking ahead, retailers will hope the upcoming run of major events, including the Olympics, European men’s football championships and a series of high-profile concerts, will kick off a brighter period of trading.”