Connect with us
- Find office locations kpmg.findOfficeLocations
- Social media @ KPMG kpmg.socialMedia
Paul Martin, UK Head of Retail at KPMG, said:
“Black Friday bargains saw retail sales grow by over 4% in November and was a much needed boost both on the high street and online.
Household appliances, footwear and furniture saw positive sales growth both in store and online as consumers sought out good deals on designer items and started to prepare for Christmas gatherings at home. However, some categories such as toys, computing and baby equipment have now seen several months of negative sales figures that even the festive boost has not been able to reverse.
As we enter the last crucial few weeks of the year, retailers will be hoping that consumers continue to focus on the Christmas feel good factor. For some struggling retailers hit hard as consumer confidence and spending declines, and costs continue to rise, the next few weeks could be critical to their survival. Retailers are well aware that in the current environment it is a battle to attract and retain every customer. Given the economic headwinds for the year ahead, with consumer behaviour expected to evolve further as shoppers look to trade down and purchase less, understanding and meeting customer needs will be mission critical for retailers, and it’s a job that keeps getting harder.”