- UK high streets experienced a disappointing June, with overall sales increasing by a modest 0.6 per cent year-on-year.
- In-store sales growth has been below the rate of inflation for the sixth consecutive month, indicating a significant drop in sales volumes.
- Online sales surged by 4.3 per cent, with fashion seeing a 10 per cent jump online compared to a 0.2 per cent decline on the high street.
- Consumers are described as "incredibly cautious" due to rising job losses and volatile geopolitical conditions, impacting discretionary spending.
- Sophie Michael, head of retail and wholesale at BDO, commented that there is a “growing gap between the performance of physical stores and online retail”.
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