"Retailers reported that annual sales volumes fell rapidly in December, as weak consumer confidence contributed to softer trading conditions in the lead-up to Christmas. Firms do not anticipate any relief in the new year, with sales expectations deteriorating to their weakest in over four years. The gloomy retail outlook was mirrored across the wholesale and motor trades sectors, which also expect sales to continue falling in January."
"TCBI's findings found that r etail sales volumes fell at an accelerated rate in the year to December (weighted balance of -44% from -32% in November), with the downturn expected to deepen in January (-57%). Sales for the time of year were judged to be "poor" in December, to a greater extent than last month (-31% from -20% in November). Next month's sales are set to similarly disappoint against seasonal norms (-34%)."
"Online retail sales volumes declined at a moderate rate in the year to December, following two consecutive months of growth (-12% from +13% in November). Sales are expected to contract at a steep pace next month (-42%). Wholesale sales volumes fell in the year to December at the fastest rate since June 2020 (-50% from -31% in November). Wholesalers expect sales to decline at the same pace next month (-50%)."
Retail sales volumes fell at an accelerated rate in the year to December, extending weakness since mid-2023, with a weighted balance of -44% (from -32% in November) and expectations worsening to -57% in January. Seasonal sales were judged poor (-31% versus -20%), with next month’s seasonal performance expected at -34%. Online retail declined (-12% from +13%) and is forecast to contract steeply (-42%). Wholesale volumes dropped at the fastest pace since June 2020 (-50%) with the same pace expected next month. Total distribution volumes fell sharply (-46%) and are expected to deepen (-53%).
Read at London Business News | Londonlovesbusiness.com
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