May bank holidays fail to boost sales as shoppers save

The three bank holidays in May failed to get shoppers spending as sales growth slowed to its lowest level in six months, latest figures show.

Total UK retail sales increased by 3.9 per cent last month, against a decline of 1.1 per cent in May 2022 and below the three-month average growth of 4.7 per cent, according to the BRC-KPMG Retail Sales Monitor.

Food sales were up 9.6 per cent compared to a year ago, boosted by the coronation but still not sustained across the month.

Meanwhile, growth in discretionary spending continued to tumble as the high cost of living squeezed households.

The gloom continued for online retailers with just four categories registering positive sales figures and total sales down by 3 per cent.

There was cause for some optimism, however, as brighter weather at the end of the month led to a much-needed pick-up in summer fashion sales, as well as gardening and DIY products.

British Retail Consortium chief executive Helen Dickinson said: “With consumer confidence still recovering from record depths, and continued tightening of household incomes, we are unlikely to see substantial sales growth in the coming months.