Poor spending figures were primarily down to the movement of Black Friday into the December figures this year.
The latest report from the British Retail Consortium (BRC) tells a sad tale for retail, with UK total retail sales decreased by 3.3% year on year in November, against a growth of 2.6% in November 2023. However, this reporting didn’t include Black Friday week, so the hope for retailers is that consumers were being savvy shoppers and held off shopping until the end of the month.
Helen Dickinson, chief executive at the British Retail Consortium, said: “While it was undoubtedly a bad start to the festive season, the poor spending figures were primarily down to the movement of Black Friday into the December figures this year. Even so, low consumer confidence and rising energy bills have clearly dented non-food spending.
“Retailers will be hoping that seasonal spending is delayed not diminished and that customers get spending in the remaining weeks running up to Christmas. If not, retailers will be feeling the squeeze from both sides as reduced revenues are met with huge additional costs next year. The Budget, as well as the introduction of new packaging levies, will cost retailers over £7 billion extra next year. How effectively the government works the industry to mitigate these costs will determine the extent of price rises and job losses in the future.”
Top: High Street in Worcester (Image: Philip Halling / Victorian Christmas Fair, Worcester / CC BY-SA 2.0)
