UK Retailers Struggled Over Christmas as Shoppers Cut Back on Spending
The UK retail sector sold far less than expected during the Christmas season as shoppers tightened their belts, new figures show.
Retail sales volumes are estimated to have fallen by 1 percent in December 2022, following a fall of 0.5 percent in November, according to the Office for National Statistics (ONS).
The proportion of online sales fell to 25.4 percent in December from 25.9 percent in November, probably because Royal Mail strikes led to consumers shopping in stores more, the ONS said.
Heather Bovill, ONS deputy director for surveys and economic indicators, said: “Retail sales dropped again in December with feedback suggesting consumers cut back on their Christmas shopping due to affordability concerns….