UK retail spending shows modest growth ahead Black Friday, survey show
British Retail Consortium and KPMG said food sales rose 3.2%, while non-food spending was flat as shoppers waited for Black Friday deals.
- Retailers reported subdued October sales as shoppers delayed spending ahead of Black Friday and Christmas, figures show, with retailers predicting strong November demand.
- Consumer confidence dipped in October ahead of the Chancellor's Budget as households faced mounting economic pressures. Jack Meaning, chief UK economist at Barclays, said, "As the squeeze on consumers' spending power begins to build," optimism is fading.
- Retailers demand energy bill cuts as costs rise by £440m, while Tesco urged the Chancellor to slash "fundamentally unfair" business rates to help offset mounting pressures.
- Total UK retail sales rose 1.5% year on year, according to the British Retail Consortium and KPMG, though food sales at 3.2% masked flat non-food performance as customers awaited Black Friday deals.
- BRC chief executive Helen Dickinson said retailers are "hoping pent-up demand translates into stronger spending through November and December" as they work to deliver value this Christmas.
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12 Articles
Shoppers hold back spending ahead of Black Friday
British shoppers are holding back on spending ahead of Black Friday, dealing a further blow to retailers after they missed out on significant support at last month’s Budget. Total retail sales in the UK increased by 1.5 per cent year-on-year, according to the British Retail Consortium (BRC), against growth of 1.6 per cent in the [...]
Evening Standard
Retailers suffer subdued October as shoppers hold back ahead of Black Friday
Total UK retail sales increased by 1.5% year on year, although this was above the three-month average growth of 1.2%, according to the BRC and KPMG.
Retail spending stalls as shoppers hold out for Black Friday deals
UK retail sales rose 1.5 per cent in October, but shoppers held back on big-ticket purchases ahead of Black Friday and Christmas. The latest BRC-KPMG figures, covering the four weeks to October 31, showed growth was slightly below the 1.6 per cent recorded a year earlier but above the three-month average of 1.2 per cent....
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