Retailers are pinning their hopes on a late rush of Christmas shopping, after households held back in November.
Retail sales edged up by 2.7% in November, compared with growth of 4.2% in the same period in 2022, according to the latest British Retail Consortium and KPMG retail sales monitor. But the figures were not adjusted for inflation and so the rise in sales likely “masked a drop in volumes”.
In separate figures from Barclays, restaurants fell into further decline last month, with a measure of business activity falling by 11.9% compared with a 10.3% decline in October, as 36% of consumers said cold weather and dark evenings had affected their spending patterns.
Barclays’ research found growth at supermarkets was also lower month-on-month, at 5% compared with 5.2% previously.
