ONS Retail Sales November 2024

Retail sales (value, non-seasonally adjusted, exc. fuel) declined by 1.8% year-on-year (YoY) in November according to the latest ONS data, marking the first decline since June. It compares to a 5.7% uplift a year earlier, amid higher levels of inflation.
In volume terms (non-seasonally adjusted, exc. fuel), retail sales also slipped into declining, falling by 2.2% YoY in November. It compares to a soft 0.6% rise a year ago.
It should be noted that ONS figures are based on a sample of some 5,000 retailers and are subject to revisions. Retail sales value and volume growth has detached – percentage change on a year earlier

Sales remain in decline in November

Source: ONS, Retail Economics analysis

Note: all retail sales figures provided below are non-seasonally adjusted, excluding Fuel, unless stated otherwise.

Food and non-food

Food sales remained in decline in November, with values down by 1.5% YoY. This compares to a 6.9% rise a year earlier during higher levels of inflation. Adjusting for inflation, volume declines deepened to -3.2% against a weak 1.0% decline in the previous year.
Non-food sales fell into decline following four months of growth, with values down by 1.3% in November compared to a 3.2% rise in the previous year. In volume terms, non-food sales decreased 1.1% in November against a 0.2% decline a year earlier.
Clothing sales volumes plummeted 7.8% in November, following a 1.7% dip a year earlier. Footwear and Leather Goods volumes faced deeper declines (-10.7%) against a strong comparative.
Household Goods sales values plunged 7.2% in November as prices decline, with volumes down by a softer 5.6%. Declines across big ticket Furniture and Lighting volumes deepened to -9.6%, while Hardware and Paints remained in growth (3.5%).
Electrical Household Appliances suffered a deep 12.2% drop in volumes in November, impacted by the timing of Black Friday.
Pharmaceuticals, Cosmetics and Toiletries volumes declined for the first time since March, down by 2.4% in November.

Online

nline sales values declined by 5.7% YoY in November, against a 10.6% rise a year earlier, impacted by the later timing of Black Friday.
Household Goods have been in consistent decline online since February, with sales down by 16.7% in November, while Clothing & Footwear slipped into 5.0% decline.
Non-store retailing (a proxy for pureplay retailers) plunged by 7.5% YoY in the month, against a 9.4% increase a year earlier.
The proportion of retail sales made online was 30.0% in November, down from 31.3% a year earlier.
Overall, average weekly online sales were £3.0bn in November, down from £3.2bn in the previous year.

Retail sales price deflator

The retail sales deflator (a measure of inflation specific to retail) remained in deflation in November when including fuel, down by 0.7% YoY, but edged up 0.3% when excluding fuel.
The implied price deflator among food edged up to 1.8% in November, against a strong 8.0% rise in the previous year. Among non-food stores, the price deflator remained in deflation at -0.3%.