Data: Valentine’s Day helps boost retail sales

Retail sales enjoyed a modest growth of 1.1% last month as shoppers sought out gifts to celebrate Valentine’s Day, according to the latest figures from the BRC-KPMG retail sales monitor.

This follows the 1.1% rise of the same month last year, but was below the 3-month average growth of 2.4% and above the 12-month average growth of 0.8%.

Food sales increased by 2.3% year on year, down from the 5.6% increase in February 2024, while non-food sales were flat last month, against a decline of 2.7% in the previous year.

Consumers favoured online for their shopping, with non-food sales up 1.9% year on year compared to the 1% drop in in-store non-food sales.

BRC chief executive Helen Dickinson said: “Retail sales saw more modest growth in February. While sales growth across non-food categories was generally muted, it was propped up by online purchases, particularly in computing and electronics.

“Jewellery, watches and fragrance sold well thanks to Valentine’s Day, reversing declines seen last year, and furniture also returned to growth.

“Fashion performed poorly due to the gloomy weather throughout the month, but retailers are hopeful the early March sunshine kickstarts spending on Spring and Summer wardrobes.”

KPMG UK head of consumer, retail and leisure Linda Ellett added: “Consumers remain cautious with their spending and many are continuing to prioritise saving, travel and experiences.

“Nervousness about the economy is deferring other big ticket purchasing, but occasions and offers are still tempting shoppers into some impulsive spending. Valentine’s, for example, brought a jewellery sales boost to the high street, in what was otherwise a flat month for in-store buying.”

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