Retail purchases increased faster than expected last month as British consumers opted for early Black Friday and Christmas shopping.
The Office for National Statistics (ONS) revealed that UK retail sales volumes grew by 1.3 per cent in November, far surpassing the 0.4 per cent rise economists were predicting.
Non-food store sales jumped 2.3 per cent after only expanding by 0.2 per cent in October, which the ONS credited to hefty discounting and longer Black Friday deals.
Busier shoppers: The ONS revealed UK retail sales volumes grew by 1.3 per cent in November, more than triple the 0.4 per cent increase economists were predicting
Household goods outlets reported healthy growth thanks to significant demand for furniture and lighting, while computer, sports equipment, toy and cosmetics shops also performed well.
Meanwhile, food store sales increased by 0.8 per cent as many consumers did their festive shopping earlier than usual, with bumper trade at alcohol, tobacco stores and specialist food stores, which includes butchers and bakers.
And automotive fuel sales tipped up 0.6 per cent following greater pressure from competition regulators on petrol forecourts to pass on declines in wholesale fuel costs to customers.
The ONS also revised its retail sales figures for October, declaring they flatlined instead of declining by 0.3 per cent as previously estimated.
Despite this, total sales volumes decreased by 0.8 per cent in the three months leading up to November 2023 when compared with the prior three months.
Darren Morgan, director of economic statistics at the ONS, said: ‘With the three-month trend continuing to fall and overall sales still below pre-pandemic levels, it’s still a challenging time for retailers.’
The cost-of-living crisis, lower footfall and damp weather have put major pressure on British retailers over the past couple of years.
The UK inflation rate has moderated considerably, slipping to 3.9 per cent in November, having been 11.1 per cent in October 2022, which was the highest rate in four decades.
Yet consumers and retail businesses remain under tremendous strain, weighed down by elevated gas, electricity, and food bills, as well as higher interest rates that are driving up borrowing costs.
Many analysts are concerned retailers will not have a good December, given the difficulties so many Britons are experiencing.
Jacqui Baker, head of retail at RSM UK, said: ‘The last-minute rush that many retailers are hoping for might not come to fruition, as some families cut back on gift giving this year or restrict themselves to smaller budgets.
‘That may force retailers to start Boxing Day sales early and extend discounting throughout January – in what could be a tough start to 2024.’
