Business
How To Pitch Billion-Dollar Retailers Like Target, Whole Foods On Stocking Your Million-Dollar Idea
July 15, 2021
December 20, 2024
By Evans Momodu
1 minute read
The UK retail sector experienced an underwhelming recovery in November, the critical month for Christmas shopping, according to the Office for National Statistics (ONS).
Despite promotional events leading up to Black Friday, retail sales increased only by 0.2%, falling short of the 0.5% growth anticipated by economists. This modest rise followed a 0.7% decline in October.
Clothing sales were particularly hard hit, dropping by 2.6% to their lowest point since January 2022, when COVID lockdowns significantly restricted retail activity.
Overall, retail volumes remain 1.6% below pre-pandemic levels as of February 2020, highlighting the sector's ongoing challenges.
An industry body described November as a "shaky" start to the festive season, raising concerns about consumer spending patterns during a crucial period for retailers.
Source: Sky news
