Report Summary

Period covered: 27 October – 23 November 2024

3 minute read

Note: This report summary is one or two months behind the current month as standard reporting practice. The content is indicative only and incomplete with certain data undisclosed. Become a member to access this data or take out a free 30-day membership trial now.

Retail sales

Retail sales in November fell xx% year-on-year, according to the Retail Economics Retail Sales Index, marking the first decline since June.

Factors impacting the headline performance in the month include:

• Black Friday Lag: The later timing of Black Friday (29 Nov) meant it fell outside November's reporting period but was included in last year's comparable, creating an artificial drag on sales. This particularly impacted non-food (-xx%) and online (-xx%) as associated retail spend shifts to December.
• Early promotions fall flat: Retailers’ attempts to boost sales through early discounting had limited success, as savvy consumers delayed purchases in anticipation of better deals during the main Black Friday weekend.
• Volatile weather: November's weather was a month of two halves. A mild start to the month delayed seasonal shopping habits, before Storm Bert (23rd-25th) brought heavy rain and strong winds, disrupting footfall.
• Economic pressures: Despite slight improvements in consumer confidence, ongoing economic challenges - such as flatlining growth, higher energy bills, and negative reaction from businesses to the Autumn Budget - maintained an environment of caution, constraining non-essential spending.

Retail sales fell short of expectations in November, as fragile consumer confidence, the late timing of Black Friday, and stormy weather curtailed discretionary spending

Online sales faltered, with November’s absence of a typical Black Friday uplift impacting performance. The proportion of retail sales made online dropped to xx%, down from xx% a year earlier (ONS).

Electricals (-xx%) posted the steepest decline among retail categories, reflecting heavy reliance on online channels and delays in purchases as consumers waited for Black Friday and Cyber Monday tech deals.

Clothing (-xx%) has endured a torrid golden quarter so far, recording its second consecutive month of decline, as unseasonably mild weather early in November deterred wardrobe updates, exacerbating the lack of a Black Friday boost.

Tis the season for secondhand gifting

Pre-loved has become an integral part of festive shopping habits, with xx% of consumers planning to shop for secondhand gifts (Retail Economics-Vinted). 

Second-hand items are expected to account for a record £xx, or xx%, of total gift expenditure this year.

Second-hand gifting is gaining momentum, driven by cost savings and the appeal of unique finds. Over half (xx%) of consumers cite affordability as a key motivator, while xx% appreciate the opportunity to discover rare, one-of-a-kind items.

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