Retail sales figures
Figures published by the Office for National Statistics have revealed that retail sales values rose 4.6% year-on-year in November. Although retail sales volumes rose 0.7% in the month compared to the same month a year earlier, they fell 0.4% from October 2011.
Non-store retailing and automotive fuel sales volumes increased by 18.9% and 2.7% respectively compared to November 2010. The food and non-food sectors saw sales volumes decrease by 0.6% and 0.7% respectively.
Non-seasonally adjusted volume data showed that small stores provided the most upward pressure, increasing by 4.5% year-on-year. In comparison large stores decreased by 0.1% over the same period.
The British Retail Consortium said the statistics appeared to fly in the face of recent retail failures and profit warnings.
Never Miss a Retail Update!Stephen Robertson, director general of the BRC, said: “The evidence we’re receiving suggests consumers have approached this Christmas with great caution, reining in their spending in November and leaving it late to start their Christmas shopping.”
He continued: “The values retailers reported to us showed November sales barely up on a year ago, the weakest growth for six months. The continuing high levels of pre-Christmas discounting and promotions are another symptom of weak demand.”
The ONS said online sales increased to £787.9 million in the month up from £546.4 million in October 2011 and now account for 12.2% of all retail sales excluding automotive fuel.
