09.01.202411:32:00UTC+00UK Retail Sales Growth Remains Weak Despite Festive Period: BRC

UK retail sales growth weakened in December despite the festive season, data from the British Retail Consortium and KPMG showed on Tuesday. Retail sales grew only 1.7 percent on a yearly basis in December, which was slower than the 6.9 percent expansion posted in the same period last year. Food sales climbed 6.8 percent over three months to December, while non-food sales dropped 1.5 percent.

Over the three months to December, in-store non-food sales were down 1.3 percent on a total basis from the last year. Online non-food sales decreased 0.8 percent, against a decline of 3.0 percent in the last year.

For 2023, total retail sales increased 3.6 percent from 2022. Food sales gained 8.1 percent, while non-food sales declined 0.1 percent for the year.

"The festive period failed to make amends for a challenging year of sluggish retail sales growth, as weak consumer confidence continued to hold back spending," BRC Chief Executive Helen Dickinson said.

"2024 looks to be another challenging year for retailers and their customers, and spending will continue to be constrained by high living costs," added Dickinson.