UK retail sales marginally rise in November as consumers hold back spending

New figures from the Office for National Statistics (ONS) have shown a marginal rise in retail sales volumes for the month of November, a slight increase that was offset by consumers waiting for discount periods in the following month.

According to the data, sales were estimated to have risen by 0.2 percent, following a fall of 0.7 percent in October. Clothing retailers were cited as a key contributor to the lack of substantial growth in November, as was the later than usual Black Friday, which instead came in December.

Compared to pre-Covid levels in February 2020, volumes were down 1.6 percent. More broadly, however, there was a rise of 0.3 percent across the three months to November 2024, when compared to the three months prior.

Textile clothing footwear stores were particularly hit hard, with sales dropping around 2.6 percent for the month, following a fall of 3.5 percent in October. Non-food stores, including department stores, clothing and household goods, rose 0.2 percent on a more general basis.

Online retail sales, meanwhile, dropped 4.3 percent, the largest drop since March 2022, and worse than November 2023, when sales fell 3.1 percent.

In a statement, Thomas Pugh, economist at RSM UK, said the figures were reflective of the current state of the UK’s economy. He commented: “The tick up in retail sales volumes in November suggests that the stagnation which has gripped the UK economy since the summer continued into the final months of the year.”