Retail sales saw ‘solid’ growth in final month of 2024, experts say
The Scottish Retail Consortium said 2024 on the whole, however, was a ‘tepid’ year for sales in Scotland.
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Your support makes all the difference.Scottish retail sales saw “solid growth” last month but retailers will still be hoping for a “brighter” 2025, according to industry experts.
Data from the Scottish Retail Consortium (SRC) KPMG Scottish retail sales monitor showed that total sales in Scotland increased by 0.8% compared with December 2023, when they had grown 1.9%.
This was above the three-month average decrease of 0.8% and above the 12-month average decrease of 0.4%.
Adjusted for inflation, there was a year-on-year increase of 1.8%.
The value of Scottish retail sales rose by 1.8% in real terms during December
On a like-for-like basis, Scottish sales increased by 2.0% compared with December 2023, when they had increased by 1.0%.
This is above the three-month average of 0.0% and above the 12-month average decline of 0.3%.
David Lonsdale, director of the SRC, said: “Scottish retail sales saw solid growth in December as Black Friday and Christmas helped retailers to their best monthly performance of an otherwise flat golden trading quarter and tepid 2024.
“Overall, the value of Scottish retail sales rose by 1.8% in real terms during December.
“Food sales were flat, reflecting consumers cutting back a little alongside significant price competition between grocers competing for festive purchases.
“Non-food trading was more mixed. Computing and gaming did well alongside home appliances and health and beauty products.
As the Hogmanay bells tolled retailers won't have been heartbroken to bid farewell to 2024
“Sales of toys and home accessories however were weak. Customers continued to increase their online shopping across Black Friday and in the run-up to Christmas; in part driven by the poor weather which hit Scotland in December.
“As the Hogmanay bells tolled retailers won’t have been heartbroken to bid farewell to 2024.
“Sales in the crucial final golden trading quarter were identical to last year. That is indicative of a tough combination of household discretionary spending being limited, and much of what there is being spent on experiences rather than products.
“Retailers will be hoping there are brighter skies ahead in 2025.”
The figures, which cover the period from November 24 to December 28, showed that total food sales were flat at 0.0% versus December 2023, when they had increased by 5.5%.
December this year was above the three-month average decline of 0.1% and below the 12-month average growth of 0.7%.
In 2025, we will see retailers increasingly utilising customer data and AI technology to deliver increased personalisation when it comes to targeting products and offers to their current, and potential, customers
Total non-food sales increased by 1.5% in December compared with December 2023, when they had decreased by 1.1%.
This was below the three-month average decrease of 1.3% and 12-month decrease of 1.4%.
Linda Ellett, UK head of consumer, retail and leisure at KPMG, said: “With Black Friday falling as late as it did, this year it was part of the Christmas shopping season even more so than in previous years.
“December, coupled with Black Friday week at the end of November, delivered sales growth for retailers – with the likes of AI-enabled tech and beauty advent calendars boosting festive takings.
“However, there was no sales growth during the golden quarter of October to December in Scotland compared to last year, reflecting the ongoing careful management of many household budgets during a time when many costs remain at a heightened level.
“In 2025, we will see retailers increasingly utilising customer data and AI technology to deliver increased personalisation when it comes to targeting products and offers to their current, and potential, customers.”