UK retail sales growth marks worst November since 2011

Wednesday, 16 December 2015 00:00 - - {{hitsCtrl.values.hits}}

Reuters: British retail sales grew at the weakest pace for any November since 2011 as hopes of a surge from Black Friday discounts fell flat, according to a survey from the British Retail Consortium on Tuesday.

The BRC said the total value of retail sales between Nov. 1 and Nov. 28 was 0.7% higher than in the November period of 2014, slowing from a meagre 0.9% the month before.

In its previous survey the BRC had speculated that shoppers were holding fire for Black Friday at the end of November – a day of U.S. sales promotions which has been adopted by British retailers in recent years. “November’s relatively flat sales figures are a reality check for the retail sector, with consumers holding off for a Black Friday bargain pitted against retailers determined to hold on to their hard-earned margins,” David McCorquodale, head of retail at survey sponsor KPMG, said.

Furniture and electrical appliances sold particularly well, driven by the Black Friday sales.

The BRC said the build-up to the Christmas sales period was “one of the hardest to read in years”, with shoppers increasingly purchasing goods online.

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