UK retail sales decline in Nov. ’24

UK retail sales dropped 3.3 per cent year-on-year in November, reversing the 2.6 per cent growth recorded in November 2023, according to the British Retail Consortium (BRC). This decline fell below both the three-month average of -0.1 per cent and the 12-month average of 0.5 per cent.

Food sales rose 2.4 per cent year-on-year for the three months to November but lagged the 7.6 per cent growth of November 2023. Non-food sales decreased 2.1 per cent over the same period, while online non-food sales plunged 10.3 per cent year-on-year in November.

Helen Dickinson, CEO of the British Retail Consortium, attributed the weak figures to the delayed inclusion of Black Friday sales in December’s data and low consumer confidence. Rising energy bills and economic pressures have dented spending on non-essential items, particularly fashion.

Retailers remain hopeful for a recovery in seasonal spending before Christmas but face challenges from reduced revenues and increased operational costs, including packaging levies expected to cost the sector £7 billion next year.

Attribution: the British Retail Consortium (BRC)

Subediting: M. S. Salama