Black Friday discounts, coats and hot water bottles boost November sales
Despite November sale figures going up, inflation played a big part and less volume of goods were sold, experts warned.
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Your support makes all the difference.Black Friday deals and the colder weather provided a boost to November retail sales, new figures show.
A study by the British Retail Consortium (BRC) revealed sales rose by 4.2 per cent in November compared with the same month a year ago, up from an annual growth rate of 1.6 per cent in October.
BRC chief executive, Helen Dickinson, said customers rushed to buy “winter warmers”, such as coats, hot water bottles, and hooded blankets as the weather turned cold and said Black Friday discounts also boosted sales of home furnishings as people traded big nights out for budget nights in.
But she warned that the rise in sales was still behind inflation, suggesting the volume of goods sold would continue to plummet and retailers were doing all they can to keep prices affordable for customers.
“Sales picked up as Black Friday discounting marked the beginning of the festive shopping season. However, sales growth remained far below current inflation, suggesting volumes continued to be down on last year.
“As the weather began to turn, customers were quick to purchase winter warmers, such as coats, hot water bottles, and hooded blankets. Black Friday discounts also boosted sales of home furnishings as many households traded big nights out for budget nights in.
She added: “Despite facing huge cost pressures, retailers are doing all they can to keep prices affordable for all their customers. But, the cost of living crisis means many families might dial back their festive plans.”
Household appliances, footwear and furniture saw positive sales growth both in store and online as consumers sought out good deals on designer items.
However, some categories such as toys, computing and baby equipment have now seen several months of negative sales figures that even the festive boost has not been able to reverse.
The UK Head of Retail at accounting giants - KPMG - Paul Martin said that these next few weeks could be crucial for retailers struggling.
He said: “For some struggling retailers hit hard as consumer confidence and spending declines, and costs continue to rise, the next few weeks could be critical to their survival. Retailers are well aware that in the current environment it is a battle to attract and retain every customer.”
He believes that consumer behaviour is changing and “expected to evolve further as shoppers look to trade down and purchase less”, making it harder for retailers to meet customer needs.
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