You are here: Home - Household Bills - News -

Retail sales slump in November

Written by: Paloma Kubiak
Retail sales fell by 0.4% in the three months to November, figures from the Office for National Statistics reveal.

This is the first decline since April 2018, though food stores was the only main sector to see growth (0.5%).

On a month-by-month basis, the ONS reported that retail sales fell by 0.6%.

However, year-on-year growth in the quantity bought saw an increase of 1% in November 2019.

Online sales accounted for 18.7% of retail sales in November, falling from 19.1% reported in October.

The November figures exclude the annual Black Friday shopping extravaganza but Aled Patchett, head of retail and consumer goods at Lloyds Bank Commercial Banking, said even early discounting wasn’t enough to get consumers spending.

He added: “Instead, these figures add to the impression that 2019 has been a slow burn in terms of market growth. Against this backdrop, we can expect to see retailers seeking change to drive growth and we anticipate many will be diversifying further in 2020. Offering a mix of new services both in-store and online will support the continued refinement and improvement of their omnichannel strategies.”

Emma-Lou Montgomery, associate director for personal investing at Fidelity International, said: “Retailers are in for a nail-biting end to an already difficult year. Today’s UK retail sales figures show the affect that Brexit and the December election have had on consumer purse strings. In a climate of uncertainty spending has clearly taken a back seat.

“While this week’s economic reports of a strong jobs market with inflation still lagging behind wage growth mark good news for retailers who will be banking on consumers loosening their purse strings during December’s festive period, there’s no doubt that retailers will be keeping everything crossed for a last minute Christmas miracle.”

There are 0 Comment(s)

If you wish to comment without signing in, click your cursor in the top box and tick the 'Sign in as a guest' box at the bottom.

Flight cancelled or delayed? Your rights explained

With no sign of the problems in UK aviation easing over the peak summer period, many will worry whether holida...

Rail strikes: Your travel and refund rights

Thousands of railway workers will strike across three days this week, grinding much of the transport system to...

How your monthly bills could rise as the base rate reaches 1.25%

The Bank of England has raised the base rate to 1.25% as predicted – the fifth consecutive rise in just six ...

What will happen if rates change

How your finances will be impacted by a rise in interest rates.

Regular Savings Calculator

Small regular contributions can build up nicely over time.

Online Savings Calculator

Work out how your online savings can build over time.

DIY investors: 10 common mistakes to avoid

For those without the help and experience of an adviser, here are 10 common DIY investor mistakes to avoid.

Mortgage down-valuations: Tips to avoid pulling out of a house sale

Down-valuations are on the rise. So, what does it mean for home buyers, and what can you do?

Five tips for surviving a bear market mauling

The S&P 500 has slipped into bear market territory and for UK investors, the FTSE 250 is also on the edge. Her...

Money Tips of the Week