Post-Xmas sales season 'unsuccessful' says BRC
January 9, 2024
Boxing Day and New Year sales in the furnishing sector have not delivered the usual boost to trading, says the British Retail Consortium.
The pre-Christmas period was also disappointing as weak consumer confidence continued to hold back spending according to the BRC's latest data.
Helen Dickinson, BRC Chief Executive, said: “The post-Christmas sales were unsuccessful in enticing spend in areas such as furniture and homeware, with households remaining cautious about making larger purchases.
"2024 looks to be another challenging year for retailers and their customers, and spending will continue to be constrained by high living costs. Retailers will also have to juggle various cost pressures, including the rise to business rates this April," comments Ms Dickenson. "This will be compounded by other emerging issues, such as the disruption to shipments from the Far East via the Red Sea. Political parties must consider this backdrop when they set out their plans for retail in manifestos so they can help support the industry to grow, invest, and serve customers."
According to the latest BRC-KPMG Retail Sales Monitor for December 2023, non-Food sales decreased 1.5% over the three-months to December - a poorer performance than the 12-month average decline of 0.1%.
UK Total retail sales increased by 1.7% in December, against a growth of 6.9% in December 2022. This was below the 3-month average growth of 2.3% and below the 12-month average growth of 3.6%.
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