Wednesday, 04 November 2021 20:25

Scottish retail sales grow in last quarter

Scottish retail sales grow in last quarter Photo: VisitScotland

New figures from Scotland’s Chief Statistician show that the volume of retail sales in Scotland increased by 1% between July and September.

On an annual basis, comparing the quarter to Q3 2014, retail sales volumes grew by 4%.

The statistics are part of the Scottish Quarterly GDP Publication, and account for approximately 5.5% of the Scottish economy.

David Lonsdale, director of the Scottish Retail Consortium, said: “These figures point to a second successive quarterly growth in retail sales which is encouraging. However, when one factors in shop prices which have fallen in each of the past 30 months it shows that retailers are having to work ever harder to maintain let alone grow sales values.

“The period leading up to Christmas is the most important trading period in the year for many retailers and with shop price inflation at a record low and pay growth outstripping inflation consumers are set to benefit from some great deals.”

Deputy First Minister John Swinney said: “Retail sales volumes in Scotland rose one per cent in the third quarter of 2015, following a similar pattern to the previous quarter, and increased by four per cent over the year.

“This is further evidence of generally positive conditions for Scotland’s retailers, with the economy expanding for three consecutive years, the highest employment rate in the UK, and low inflation and higher real wages feeding through to consumer confidence.

“In addition, there is other survey evidence that suggests around half of firms expect sales revenue to increase next quarter.

“We are working hard to support Scotland’s retailers with the most competitive business tax environment anywhere in the UK. 99,000 small business properties across all sectors - a record number - now pay no or reduced business rates, while we have recently legislated to give councils powers to further cut business rate bills in their areas.”

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