:quality(70)/cloudfront-eu-central-1.images.arcpublishing.com/thenational/SHQ72D7AZITSNF2L434VZ7NT6U.jpg){kind=small}
[ad_1]
Consumers cut back on their Christmas spending in November as the number of people hitting the shops fell, citing the rising cost of living.
UK shopper numbers were 1.5 per cent worse than in October and 13.3 below pre-pandemic levels in the month, BRC-Sensormatic IQ data showed.
High street shopper numbers fell by 13.6 per cent in November 2019, down two per cent from last month’s rate and worse than the three-month average of a 12.3 per cent decline.
Retail parks had a relatively shallow decline of 4.2 percent but visits to shopping centers were down 23.2 percent from November 2019.
Helen Dickinson, chief executive of the British Retail Consortium, said: “Substance took another stumbling block as the cost-of-living crisis put some consumers off visiting shops in November.”
“Others chose to stay at home because of the rail strike outbreak, or chose the World Cup over shopping trips.
“Many major cities were hit particularly hard, with Birmingham, Bristol and Manchester all seeing the biggest drop in footfall since January.”
What is recession? – Video
“Rising inflation and low consumer confidence continue to dampen spending expectations in the run-up to Christmas.
“Despite retailers doing their best to keep prices as low as possible for their customers, financial concerns are driving up costs for many households.
“But with three more weeks to Christmas, retailers hope the festive spirit will still provide a welcome boost to both footfall and retail sales.”
How to prepare for a recession – video
Andy Sumpter from Sensormatic Solutions said: “As retailers braced themselves for the start of peak trading ‘proper’, November brought disruption and opportunity in almost equal measure.
“While the train strike caused disruption for many, concerns that the tested format of the ‘Christmas World Cup’ could overshadow retailers’ Black Friday efforts proved unfounded, with in-store results outperforming on-field results for England. Wells.
“With footfall on Black Friday surpassing 2021 levels, retailers will hope this reflects resilience in consumer demand, even in the face of rising cost of living, as they head into the crucial December Christmas trading period.”
Updated: December 02, 2022, 12:01 AM
[ad_2]
Source link
