Non-food sales down, food sales up as consumers delay spending
- UK retail sales declined 3.3% year on year in November
- Non-food sales decreased 2.1% while food sales increased 2.4% over three months to November
- Black Friday not included in these figures
- British Retail Consortium’s data shows decline compared to growth in Nov 2023
- Spending on fashion weak due to delayed purchases, health spending boosted by seasonal illnesses
UK retail sales dropped by 3.3% year on year in November, according to the British Retail Consortium, a decline compared to a growth of 2.6% in November 2023. Non-food sales decreased 2.1% over three months to November, while food sales increased 2.4%. The data does not include Black Friday, which may have influenced consumer spending patterns. Spending on fashion was weak due to delayed purchases of winter clothing, and health spending saw a boost from seasonal illnesses. Retailers hope for delayed holiday shopping and early Christmas sales to offset the decline.
Factuality Level: 8
Factuality Justification: The article provides accurate information from the British Retail Consortium about the decrease in total retail sales and non-food sales, as well as an increase in food sales. It also includes quotes from experts to provide context and analysis of the situation. However, it contains some minor errors: November 2023 should be replaced with November 2022, and the article does not mention the source for the £7bn extra cost for retailers.
Noise Level: 3
Noise Justification: The article provides relevant information about UK retail sales figures and offers insights from industry experts on the potential impact of Black Friday and upcoming costs for retailers. It stays on topic and supports its claims with data. However, it could benefit from more in-depth analysis or discussion of long-term trends and consequences.
Financial Relevance: Yes
Financial Markets Impacted: Yes
Financial Rating Justification: The article discusses UK retail sales figures and their impact on the retail sector, which can affect financial markets and companies involved in this industry. It also mentions the Budget and new packaging levies that will cost retailers over £7bn extra next year, potentially leading to price rises and job losses.
Presence Of Extreme Event: No
Nature Of Extreme Event: No
Impact Rating Of The Extreme Event: No
Extreme Rating Justification:
www.retailsector.co.uk