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BRC-KPMG Retail Sales Monitor (RSM) and the Office for National Statistics' Retail Sales Index (RSI)
The BRC-KPMG Retail Sales Monitor (RSM) and the Office of National Statistics (ONS) Retail Sales Index (RSI) are highly regarded and trusted indicators of how the retail industry is performing.
In order to the point out the important differences between the RSM and RSI, the BRC, in conjunction with the ONS, have produced a document explaining variations in methodology, industry representation, and how the published figures can occasionally lead to apparent discrepancies. The document also makes comparisons between the two headline series and estimates a joint RSM-RSI series.
Click here to download a PDF detailing the differences between the RSM and the RSI.
The Retail Sales Monitor (RSM)
The RSM is produced from around 70 participants from across the UK retail industry, who are members of the BRC. Sales values across a range of 12 product categories are provided weekly to KPMG who then aggregate them into annual growth rates for each month on a total and like-for-like basis. These headline growth rates are published in the second week after the month reported on. In addition, all participants in the survey receive weekly analysis of sales split into the product categories as a tool for gauging their own performance in relation to their sector, and the industry as a whole. The 'like-for-like' figure strips out the effect of expansions and store openings and closures and is presented as a measure of retail industry performance. The 'total' figure reflects retail industry growth.
The Retail Sales Index (RSI)
The RSI measures monthly movements in the average weekly sales of British retailers. The monthly survey of 5,000 collects the total retail turnover from each business selected. Responses are mandatory in accordance with government legislation. Retail turnover is the total value of sales of goods to the general public for personal or household use. It includes sales via the internet and other forms of mail order.
The ONS' monthly Retail Sales First Release concentrates on seasonally adjusted volumes of retail sales, i.e. after the effects of price changes and regular seasonal factors have been removed. An unadjusted RSI for the value of sales is also included in the First Release. In addition, a monthly compendium is published which contains detailed series by type and size of retailer.
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