November saw worst retail sales growth since 2011, UK survey finds

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16th December 2015 10:28 - Retail

A recent UK retail survey has revealed that November saw the worst retail sales growth since 2011, with the hopes of a Black Friday increase being November saw worst retail sales growth since 2011, UK survey findsdashed.

The research, carried out by The British Retail Consortium, revealed that retail sales in Britain grew at the slowest rate for any November since 2011.

The British Retail Consortium discovered that the total value of retail sales in the period from November 1st and November 28th 2015 was just 0.7 per cent higher than that of November 2014 and slower than October 2015’s 0.9 per cent.

In a prior survey by The British Retail Consortium, it was found that consumers were waiting for Black Friday to go shopping.

A spokesman for the researchers said of the research findings:

"November's relatively flat sales figures are a reality check for the retail sector, with consumers holding off for a Black Friday bargain pitted against retailers determined to hold on to their hard-earned margins."

The Black Friday sales were found to boost sales of electrical appliances and furniture, however, The British Retail Consortium said that the run up to the Christmas sale period was "one of the hardest to read in years", as a result of consumers choosing to shop online.

An additional survey on behalf of theMoney Advice Trust charity revealed that more than 1 in 3 Brits were intending get a loan to fund buying Christmas gifts this year.

Chief Executive Officer of the Money Advice Trust charity, Joanna Elson, said of the research findings:

"With underlying borrowing having risen sharply over the last year, we are concerned that this extra Christmas spending will be the last straw for many household budgets."

In comparison to September and October, the amount of people who took out an unsecured loan increased by 8.2 per cent, according to Bank of England data. This rate of increase had not been seen since 2006.

The British Retail Consortium revealed that the amount of retail spending on a like-for-like basis decreased by 0.4 per cent year-on-year during November, after a fall of 0.2 per cent the month prior. However, a Reuters poll suggested that economists had predicted an increase of 0.4 per cent.

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