Retail sales rise by 0.2% in November

November brought mixed fortunes for retail, impacted by Black Friday, as weak consumer confidence is seeing shoppers hold out for promotions. Anxiety following the Autumn Budget combined with a mild start to November delayed spending on seasonal items, including a sharp decline in clothing volumes. It is critical delayed spending materialises this Christmas to mitigate the poor start to retail’s all-important festive season. However, cautiousness lingers, slowing momentum in the economy. Households continue to adjust to higher prices, elevated interest rates and real wages growth at a meagre 2%. Consumers are now focusing spending on carefully timed promotions and essentials, while deferring bigger purchases.