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UK retail spending shows modest growth ahead Black Friday, survey show
A Rakuten survey found 65% of planned Black Friday buyers delayed essential purchases, with average spending expected to reach £330.
- 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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18 Articles
18 Articles
Black Friday becomes a lifeline as cash-strapped shoppers hunt for essentials
Forget flashy gadgets and luxury treats – struggling households are using Black Friday to stock up on everyday necessities, with some relying on discounts to afford things they desperately need.
·London, United Kingdom
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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 [...]
·London, United Kingdom
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Evening Standard+6 Reposted by 6 other sources
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.
·London, United Kingdom
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Coverage Details
Total News Sources18
Leaning Left3Leaning Right1Center6Last UpdatedBias Distribution60% Center
Bias Distribution
- 60% of the sources are Center
60% Center
L 30%
C 60%
Factuality
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