Retail

UK retail sees a boost in Nov 2023 with strong Black Friday sales

24 Dec '23

2 min read

Pic: Adobe Stock

Insights

UK retail sales volumes rose 1.3 per cent in November 2023, rebounding after October's stagnation.
Clothing retailers reported a 1.3 per cent increase in sales volumes.
Despite a 0.8 per cent fall over the past 3 months, non-food stores saw a 2.3 per cent surge in November.
Online retail modestly increased, maintaining a significant presence in the market.

UK retail sales volumes experienced an increase of 1.3 per cent in November 2023, rebounding from a flat October where initial estimates were revised from a 0.3 per cent decline. Clothing retailers reported a 1.3 per cent increase in sales volumes, suggesting that consumers began their Christmas shopping earlier, possibly in response to retail incentives or changes in purchasing behaviour, as per the Office for National Statistics (ONS).

Despite a broader downward trend in the three-month period ending in November, with sales volumes falling by 0.8 per cent, specific sectors showed growth.

Non-food store sales, encompassing department, clothing, household, and other non-food stores, surged by 2.3 per cent in November, a significant increase from the 0.2 per cent rise in October. Retailers have attributed this unexpected rise to earlier Black Friday promotions and widespread discounting, ONS said in a press release.

Non-food store sales volumes are still 2.7 per cent below the pre-pandemic levels of February 2020, indicating a longer-term struggle for recovery in certain retail sectors. Department stores, however, matched the overall non-food trend with a 2.3 per cent increase in sales volumes, buoyed by continuous promotions.

In the increasingly critical online retail sector, non-store retailing (primarily online sales) also saw an uptick, albeit more modestly at 0.2 per cent, continuing its upward trajectory from October. Interestingly, the value of online spending has risen by 1.5 per cent from October to November 2023, slightly outpacing the overall retail growth. This has nudged the proportion of online sales up to 26.6 per cent for November, maintaining a level that's significantly higher than pre-pandemic figures.

Fibre2Fashion News Desk (KD)

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