The British Retail Consortium sales monitor shows a 1.3 per cent rise in retail sales in November compared with 0.7 per cent growth a year ago. Like-for-like sales were up 0.6 per cent. Online sales of non-food items saw their third consecutive month of double-digit growth.
Sales in Black Friday week were 40 per cent higher than in any of the other three weeks of November, but spending in the weeks running up to the event were down on the previous year. Once again Black Friday online sales were stronger than in-store footfall, with shoppers rushing for online bargains.
Joanne Denney-Finch, Chief Executive of IGD Retail Analysis, comments: "November food and grocery sales were boosted by Bonfire Night falling on a Saturday, but then curtailed by the growing impact of Black Friday, which diverts spending into other areas. Overall it was a solid month with a slight uplift on last year. Although just over half (53 per cent) of shoppers have already begun buying their festive groceries, the trend is for later Christmas food shopping each year, so retail supply chains are set to be tested to their limit again."
With digital technology and social media now key to helping retailers overcome certain business challenges and gain access to potential new customers, investment in this area is fast becoming an important element of a retail business’ strategy.
At Beavis Morgan, we work with a number of retail businesses, helping them with strategic planning, system implementation, business turnaround and improving business performance for the future.
For further information about how we can help you and your retail business, contact Steve Govey or your usual Beavis Morgan Partner.