The seasonal homewares market saw a 357% increase in value and 554% in volume year-on-year for July 2012, according to GfK.
An uplift in Olympic merchandise helped to boost the seasonal market and created consecutive weekly growth in this area since week 26, 2012. Sales hit £1.1million in week 31, equating to an impressive 1167% year-on-year growth in value.

The market saw similar growth earlier in the year, when preparation for the Diamond Jubilee meant sales were brought forwards. The seasonal market grew by 69% in the week before the Jubilee versus the previous week, accounting for £1.8m sales that week (week 22) alone.

Despite the homewares market seeing a recent growth of 27% month-on-month value from June to July 2012, the industry saw a decline of -2.1% in year-on-year value, and -5.7% in volume. GfK said this value decline was "predominantly driven by the furniture, textiles and kitchenwares markets." Home accessories also saw volume declines, but remained flat in terms of value with 0.17% growth.

GfK account manager Kate Smith said: "July 2012 is the first month that we have been able to compare year-on-year movements within the homewares market. Going forward, it will be crucial to put into context key times of year, such as the run up to Christmas and January sales, as we have been able to do with the Olympics."