Sunday, December 18, 2022

Black Friday and Christmas sales gave no uplift to retailers

Image: Ron Dauphin vía Unsplash UK retail sales volumes fell by 0.4 percent in November following a rise of 0.9 percent in October when there was a bounce back from the impact of the additional Bank Holiday in September for the State Funeral. Neither Black Friday or the run-up to the Christmas shopping season significantly lifted sales. Figures from the ONS said online retailers sales volumes fell by 2.8 percent last month, continuing a downward trend seen since early 2021, as the wider economy reopened and people could return to shopping in store; they are still 18.2 percent higher than their pre-coronavirus February 2020 levels. While average levels were down, clothing stores saw sales rise by 2.1 percent in November, boosted by footwear, but still remained 2 percent below pre-pandemic levels. Department stores also saw increased sales in November, with several retailers reporting longer Black Friday sales, as offers over the whole month of November potentially contributed to the increase in sales. The higher costs of living were reflected in online spending values, which rose by 0.6 percent, because of monthly increases across all industries except other non-food stores.
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