UK retail sales slow as shoppers await Black Friday deals

Summarised from 3 outlets · Updated 10 Nov, 00:27 · Archive

British retail sales grew 1.5% year-on-year in October as shoppers delayed spending ahead of Black Friday.

British retail sales grew 1.5% year-on-year in October, according to the British Retail Consortium and KPMG, though this was above the three-month average growth of 1.2%. Shoppers delayed spending ahead of Black Friday and Christmas, dealing retailers a subdued month following their missing significant support in the Budget.

Food sales increased 3.2%, down from 3.5% the previous October but above the 12-month average of 3%. Growth was helped by cupboard staples seeing modest demand following government advice for households to stock emergency supplies like tinned food and bottled water. Halloween falling on a Saturday also boosted spending on snacks, costumes and decorations. Retailers said the government advice had caught them off guard, prompting fears over potential shortages. Marks & Spencer boss Stuart Machin said the advice had worsened consumer sentiment by 'worrying' shoppers.

Non-food sales were flat, with furniture and white goods performing badly as customers waited for Black Friday deals. Clothing and footwear purchases grew as temperatures lowered. Helen Dickinson, BRC chief executive, said: 'Retailers are hoping pent-up demand translates into stronger spending through November and December, as they work hard to deliver great choice and value for households this Christmas. But shoppers and businesses face mounting costs, including rising interest rates and energy bills, adding to the pressures already pushing up prices.'

How it is being reported

• Shoppers hold back spending ahead of Black FridayBritish 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 [...]City AM · 10 Nov, 00:01
• Retailers suffer subdued October as shoppers hold back ahead of Black FridayTotal 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.Evening Standard · 10 Nov, 00:01
• Retailers suffer subdued October as shoppers hold back ahead of Black FridayTotal 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.Independent Business · 10 Nov, 00:01

In this story: British Retail Consortium · KPMG · Marks & Spencer · Helen Dickinson · Stuart Machin · UK

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