Advent Calendars Drive October Retail Sales

The British Retail Consortium (BRC) and KPMG's retail sales monitor revealed that UK total retail sales increased by 0.6% year-on-year in October 2024. However, in-store non-food sales decreased slightly, while online non-food sales saw a small increase.

Despite the overall positive trend, the BRC's CEO, Helen Dickinson, expressed concern about the impact of the recent Budget on consumers and retailers. She noted that uncertainty and rising energy bills have dampened consumer confidence, leading to a decline in fashion sales. However, health and beauty sales, particularly beauty advent calendars, have remained strong.

Dickinson emphasized the need for a positive consumer outlook in the upcoming Black Friday and festive season. She also highlighted the challenges posed by increased costs for retailers, which could hinder investment and growth.

Linda Ellett, UK Head of Consumer, Retail & Leisure at KPMG, shared similar sentiments. She expressed hope for an upturn in consumer confidence and spending following the Budget. However, she acknowledged that the increased employment costs faced by retailers would dampen any potential positivity. Ellett pointed to the Black Friday promotional period as a crucial test of post-Budget consumer sentiment.

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