Comment on November’s ONS retail sales figures.
Commenting on November’s ONS retail sales figures, Paul Martin, UK Head of Retail at KPMG, said:
“November retail sales continued to come along nicely in the run-up to Christmas, with sales volumes growing 5.9% on last year. That said, the month’s figures were not quite as spectacular as October’s 7.4% increase, but certainly nothing at which retailers will be turning their noses up.
“Black Friday clearly swayed shoppers to log-on instead of hitting the high street, with e-tills ringing to the tune of a 24.9% year-on-year increase in the amount spent online. Clearly the shopping extravaganza is continuing to win favour with Brits, however it’s worth remembering that these figures only just capture Black Friday and not Cyber Monday – which will be included in next month’s instalment. They also don’t account for any returns shoppers might make, which could be higher than normal when impulse purchases require a second thought.
“Household goods stores selling furniture, lighting and other appliances continued to perform particularly well. In fact, sales of electrical appliances shot up by as much as 19.1% compared to October, so promotions in this category clearly struck a chord with shoppers.
“Further reinforcing the direction of travel in relation to retail pricing, November noted the first year-on-year increase in average store prices since June 2014, albeit the largest increase came from petrol stations. Black Friday may well have boosted sales in November, but retailers will be hoping that the growth is prolonged into December.”
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