Retail sales fall: we're hanging on for Black Friday bargains

Updated

Retailers suffered sluggish sales in October, as consumers apparently slowed down on spending ahead of promised Black Friday bargains, official figures suggest.

The Office for National Statistics (ONS) said the quantity bought in the retail industry is estimated to have decreased by 0.6% compared with September.

Year-on-year sales registered a 3.8% increase, but this is down on the equivalent figure of 6.5% last month.

The ONS said the retail sector is continuing to grow with October seeing the 30th consecutive month of year-on-year increases.

Ian Gilmartin, head of retail and wholesale at Barclays, said: "October saw mixed results in the month for retailers after the strong performance we saw in September.

"Unseasonably warm weather added pressure to footfall and intense competition in the food and drink sector contributed to continued food deflation, so it's no surprise that growth is slightly lower.

"It's also natural to see a pause before we hit Black Friday and the Christmas trading period."

However, Mr Gilmartin said research suggests UK retailers are confident about the upcoming season with 79% expecting revenues to increase compared with Christmas 2014.

He said: "If retailers can get their Christmas plans right, including managing their level of discounting around Black Friday carefully, the industry should still enjoy a positive end to the year."



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