Flat sales for UK retail in November
Unfortunately it is bad news again for the UK high street with ONS reporting flat sales in November compared to October. It had been hoped that due to Christmas sales, there would be an increase after the disappointing 108% fall in October sales.
One highlight was that sales of electrical items increased by 3.8%; this can be partially attributed to the fall of the Comet chain and people who made the most of the sales.
Some low points included a 0.1% drop in food and clothing and Visa recorded a drop YoY of 2.9% of sales using their payment system (in the week 16th December to the penultimate week before Christmas.
The Director-General of the BRC (British Retail Consortium) has said that with this weekend will be a crucial one for businesses with Christmas landing on a Tuesday this year:
I’m expecting a last-minute rush but overall in sales terms it will be neither a bumper Christmas nor a disaster.”
This Christmas is another tough one for shoppers who are looking to borrow money from friends and family, pay day loans and businesses who are looking into invoice factoring and alternative finance options to help them stay afloat over the festive period.
Businesses are doing all they can to improve sales by dropping prices and increasing opening hours so hopefully we won’t see any more casualties this year.
About cashflowkillerHi! I’m James and am passionate about my small businesses. A strong cashflow is vital for us so I will be curating the latest on cashflow and business news.
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