According to seasonally adjusted estimates released this Friday (20) by the Office for National Statistics (ONS), the volume of retail sales in the UK fell by 1.0% in December compared to November. The data showed an acceleration of the contraction in retail sales as the fall in November reached 0.5% (data revised upwards) compared to October. On a year-over-year basis, December sales were 5.8% lower than in 2021.
Sales at non-food stores fell 2.1% in the month, with retailers citing rising consumer prices and declining affordability concerns.
At food stores, the 0.3% fall in December was smaller after a 1% increase in November, with signs that customers were stocking up ahead of Christmas.
The proportion of online sales fell to 25.4% in December 2022, from 25.9% in November, with evidence that the Royal Mail strike, the British Post Office, led consumers to buy more in physical stores.
Between 2021 and 2022, retail sales volumes fell by 3.0% as hospitality deregulation led to eating out, but rising prices and the cost of living impacted sales volumes.
