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Festive spending helps boost retail sales, figures show
14.12.2022 - 05:09 / dailyrecord.co.uk
Christmas shopping and Black Friday helped boost sales last month, giving retailers a “smidgen of hope”, according to the latest figures. Total sales in Scotland last month increased by 8 per cent compared with November 2021, when they had grown 2.6 per cent, the SRC-KPMG Scottish Retail Sales Monitor showed.
Adjusted for inflation, the year-on-year change was 0.6 per cent. On a like-for-like basis Scottish sales increased by 5.5 per cent compared with November 2021, when they had increased by 1.8 per cent. Ewan MacDonald Russell, deputy head of the Scottish Retail Consortium, said: “There was a small but welcome boost to Scottish retail sales in November as shoppers took advantage of discounts to belatedly begin their Christmas shopping.
“Sales rose by 0.6 per cent in real terms as consumers took advantage of the plethora of deals around Black Friday. Food sales hit a record high of 12.5 per cent — an inevitable consequence of record food price inflation. Non-food sales were boosted by sales of colder-weather clothing as winter started to bite, and early Christmas gifting.
“In contrast to last year where Christmas shopping happened earlier, it appears consumers were waiting for November promotions and discounting to galvanise them into shops. These figures will give retailers a smidgen of hope as we enter December’s make-or-break trade. However, that optimism is heavily tempered by the reality that household incomes remain significantly squeezed under the pressure of rising food and energy bills.
“Therefore, retailers will look with great interest at the Scottish budget tomorrow, hoping at the very least the government follows the approach in England and Wales and freezes the business rate.”
The monitor covers the four weeks
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