Despite better weather and the feel-good factor surrounding the start of the Olympic Games, the British Retail Consortium (BRC) has reported that UK retail sales were subdued in July.
Food and drink sales were beneficiaries of the good weather, in a month that saw sales rise just 0.1 per cent on a like-for-like basis, compared with the same time last year.
Online retail sales for July rose 15.6 per cent when compared with the same time last year; something the BRC puts down to the cooler weather at the beginning of the month.
The Olympic Games in London only began on 27 July and therefore its impact on spending will be better indicated in August.
There have been concerns, however, that people are being put off from shopping in London because of the fear of overcrowding due to the Olympics.
Director general of the BRC Stephen Robertson said: “Let’s hope that Team GB keeps on increasing its medal tally, bringing a feel-good factor that helps consumer confidence.”