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Cautious consumers delaying Christmas spending

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Food sales increased 7.6% on a total basis over the three months to November, new data shows. 

The latest BRC-KPMG Retail Sales Monitor reveals food sales in the three-month period were below the 12-month average growth of 8.4%.

However, food sales in November were up year-on-year, according to the latest data. 

Sarah Bradbury, Chief Executive at IGD, said: “For a second month in a row, food and drink sales were down in November compared to October. The comparatives to November ’22 paint a slightly better picture with an increase in sales, although this was offset by a marginal decline in volume. Footfall for the month was down compared to November ’22, a likely result of storms Ciarán and Debi bringing wetter and more windy weather across the country.” 

In addition, UK Total retail sales increased 2.7% in November, against a growth of 4.2% in November 2022. This was above the three-month average growth of 2.6% and below the 12-month average growth of 4.1%. 

Paul Martin, UK Head of Retail, KPMG, added: “With less than a month to go and sales growth limping along, the cost-of-living crisis has taken its toll on Christmas spending for many households, and the continued economic conditions are testing consumer resilience.

“Price remains the main purchasing driver, so we are likely to see a prolonged and well targeted period of discounting as retailers compete hard for a shrinking pool of spend and will need to clear stock.” 

 

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This website contains images and information relating to tobacco products. Please do not view if you are under 18 years of age.

This publication contains images and information relating to tobacco products. Please do not view if you are under the age of 18 years old.