Let’s hope it’s THG Beauty in todays article5 Dec 2023 08:01
(Alliance News) - UK consumers appear to be sticking to plans for a budget Christmas this year, with retail spending remaining weak despite Black Friday, figures showed.
Total UK retail sales increased by just 2.7% in November, a significant weakening on last November's 4.2% uplift despite a push from retailers around Black Friday deals, according to the British Retail Consortium-KPMG monitor.
Furthermore, the figures are not adjusted for inflation, masking a likely drop in volumes once higher prices are taken into account.
Food and drink, health, personal care and beauty products continued to drive growth, while jewellery and watches saw the biggest decline in sales on the high street, suggesting consumers are abandoning expensive presents in favour of more budget-friendly gifting.