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Note: This report summary is one or two months behind the current month as standard reporting practice. The content is indicative only and incomplete with certain data undisclosed. Become a member to access this data or take out a free 30 day membership trial now.
Retail sales rose by a modest 0.00% in October YoY, according to the Retail Economics Retail Sales Index (value, non-seasonally adjusted, exc. Fuel); and were up by 0.00% against 2019 levels.
Ongoing inflationary pressure is becoming difficult for consumers to ignore and is impacting their spending intentions over retail’s critical Christmas trading period.
Price expectations among households has been on the rise. Two thirds (0.00%) concerned about the rising cost of living in November – up from 0.00% in September.
It’s understandable to see why. The Ofgem energy price cap rose an eyewatering 12% at the start of October, while petrol prices reached a record high in the month, and workers are bracing a rise in national insurance contributions.
Alongside a harsher backdrop for retailers facing supply-side issues, rather than wait for deals, shrewd shoppers are anticipating mounting pressure on prices and supply in the coming months and took to shop early for Christmas in October.
This is impacting typical trading patterns as consumers look to avoid disappointment over the golden quarter. Among Christmas shoppers, around a third (0.00%) have bought Christmas presents earlier this year than they would normally do. Less than half (0.00%) of Christmas shoppers will spend on gifts when they usually do over the festive period.
But spending is ultimately under pressure. Although half (0.00%) of Christmas shoppers expect to spend the same on Christmas this year compared to last, 0.00% of festive shoppers expect to spend less this year, and just 0.00% more
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Recent cost pressures have disproportionately impacted market sentiment for online retailers
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