According to the latest data from the Office for National Statistics, furniture and lighting retail sales rose 4.8% to £1.29bn from £1.23bn in October. Compared to the previous year, sales were down 9.7% from £1.43bn.

Floorcovering retail sales increased month-on-month, up by 11.7% to £307m from £274.8m. Compared to the same time last year, sales rose by 17.2% from £261.9m.

Retail sales volumes (quantity bought) are estimated to have risen by 0.2% in November 2024, following a fall of 0.7% in October 2024. As for the value (amount spent), this was up 9.7% month-on-month to £43.8bn.

Non-food stores sales volumes – the total of department, clothing, household and other non-food stores – rose 0.2% over the month with a strong positive contribution from other retail sales (not elsewhere specified). This sub-sector rose by 7.9% in November, rebounding from a 7.1% fall in October 2024. Household goods stores rose by 1.1%, with furniture stores having the largest upward contribution to growth.

The amount spent online, known as “online spending values”, fell by 4.3% during November 2024, the largest drop since March 2022. When compared with November 2023, sales values fell by 3.1%. Total spend – the sum of in-store and online sales – rose by 0.3% over the month. As a result, the proportion of sales made online decreased from 27.5% in October 2024 to 26.2% in November, its lowest level since February 2024.

Commenting on the retail sales figures for November, ONS Senior Statistician Hannah Finselbach said: “Retail sales increased slightly in November following last month’s fall. For the first time in three months there was a boost for food store sales, particularly supermarkets. It was also a good month for household goods retailers, most notably furniture shops.

“Clothing store sales dipped sharply once again, as retailers reported tough trading conditions. With November’s retail sales survey covering the four weeks to the 23 November, Black Friday itself will fall within December’s figures. However, our figures account for this shift in timing to give us the best picture of what is happening in the shops.”

Responding to the latest ONS Retail Sales Index figures, Kris Hamer, Director of Insight at the British Retail Consortium, said: “After a positive start to the Golden Quarter, November sales stagnated, with higher energy bills and low consumer sentiment impacting spending. Clothing suffered from a fall in sales, with milder weather putting many off updating their winter wardrobe. Consumers were also holding out for the main black Friday sales week to pick up beauty and electrical deals, which saw their first falls of the year. The final two months of the year account for over one-fifth of all sales, making it a period of vital importance – particularly for non-food. With a weak November performance, retailers will hope that shoppers come out in force in the final days before Christmas.

“Given the shaky start to the festive season, retailers will be looking at the £7bn in new costs from the Budget facing the industry in 2025 with increased concern. Higher employer national insurance contributions, a higher National Living Wage, and a new packaging levy will heap pressure on an industry that is already paying more than its fair share of tax. With sales growth unable to keep pace, retailers will have no choice but to raise prices or cut costs – closing stores and freezing recruitment. To mitigate this, Government must ensure that its proposed business rates reform does not result in any shop paying higher rates than they already do.”

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According to the latest Office for National for National Statistics (ONS) data, the Consumer Prices Index (CPI) rose by 2.6% in the 12 months to November 2024, up from 2.3% in the 12 months to October. On a monthly basis, CPI rose by 0.1% in November 2024, compared with a fall of 0.2% in November 2023.

The largest upward contribution to the monthly change in both CPIH and CPI annual rates came from transport, with a further large upward effect in CPIH from housing and household services.

Furniture and furnishing prices fell by 0.7% in November, down from a rise of 0.3% in October, while down from a 2.4% rise compared to the same month last year.

The retail price of household furniture decreased by 0.5% in the month, down from a rise of 0.5%, while down from a rise of 2.4% last year.

Garden furniture prices fell 12.6%, compared to a fall of 11.4% on last month and down from a rise of 4.3% compared to last year.

Carpets and other floorcoverings prices fell 1.1%, compared to a fall of 1.3% the previous month, while lower than the 5.7% rise last year.

Other household textile prices, including furnishings fabrics, curtains and bedding, saw prices rise by 0.1%, lower than its rise of 1.5% the previous month, while down from a rise of 1.9% on last year.

Producer input prices fell by 1.9% in the year to November 2024, up from a revised fall of 2.4% in the year to October. Producer output (factory gate) prices fell by 0.6% in the year to November 2024, up from a revised fall of 0.9% in the year to October. On a monthly basis, producer input prices were unchanged, while output (factory gate) prices rose by 0.3% in November 2024.

Commenting on the inflation figures for November, ONS Chief Economist Grant Fitzner said: “Inflation rose again this month as prices of motor fuel and clothing increased this year but fell a year ago. 

“This was partially offset by air fares, which traditionally dip at this time of year, but saw their largest drop in November since records began at the start of the century.”

Responding to the latest CPI inflation figures, Kris Hamer, Director of Insight of the British Retail Consortium, said: “Headline inflation rose once again last month. November’s figures were driven primarily by increased inflation rates of fuel and clothing and footwear. There was some welcome news for those shopping around early for Christmas presents, as furniture and household equipment remained in deflation, albeit not quite as low as in October. Food inflation did rise marginally though customers would have been glad to see the price of certain meats such as pork, lamb and beef fall in price on the month.

“Retailers are doing their upmost to deliver an affordable Christmas for their customers in the face of global price pressures. For an industry that operates on low margins, £7 billion of increased costs from higher employer NI, National Living Wage, and new packaging levies, cannot simply be absorbed, despite retailers’ best efforts, and will inevitably lead to price rises, job losses, and more empty stores on our high streets. Retailers are watching the Government’s proposed changed to business rates closely, and it is essential that it leaves no store paying more in rates than before. By protecting shops, the government can support retailers as the invest in keeping shops open, and keeping prices down.”

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According to the latest UK trade data, analysed by Big Furniture Group, total imports of furniture into Britain valued £760.7m in October 2024, up 5.9% from £717.7m against the same month the previous year.

Imports from the EU registered a decline of 1% to £362.8m from £366.8m. Imports from Italy were down 5% to £72.8m, while Polish imports rose 2.8% to £69m. Imports from Germany were up 6.4% to £60.6m.

As for outside the EU, total imports rose 13.3% to a value of £397.8m from £350.9m. Chinese imports were up 15.8% to £275m, while Vietnam rose by 31% to £20.3m. Imports from the USA decreased 15% to £20m, while Turkish imports rose 8.2% to £13.5m.

Moving to exports, the total value of UK furniture leaving the country fell 4.2% to £199.8m from £208.7m year-on-year. In Europe, exports fell 2.4% to £99.7m from £102.1m. Exports to France increased 1.4% to £33.5m, while German exports decreased 4% to £13.9m. Irish exports were down 8% to £22.1m, while exports to Spain jumped 90% to £3.7m.

Outside the EU saw exports decrease 5.9% to £100.1m from £106.5m. Exports to China were down 55% to £2.9m, while Australia declined 70% to £2m. Exports to the UAE rose 20% to £8.8m, while the USA increased 4.5% to £50.7m.

Full list of imports and exports by country and value

For the monthly data and all other annual changes across four main sectors of the market – including upholstery, mattresses, cabinet and carpets, download the full report below.

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According to Google search data analysed by Big Furniture Group, one day during November 2024 saw ‘furniture’ searches record an index score of 90 or more, while a score over 80 came in at one day also. The highest searched date was 4 November with a full score 100.

Google index’s its search data to 100. This means where 100 is the maximum search interest for the term selected, it is the highest value and indicates a high internet search.

The results saw related searches of specific brand terms that included ‘Furniture Village Black Friday’, up 1,500%, ‘furniture direct online’, up 170%, and ‘David Phillips furniture’, up 100%. Other popular terms included ‘Black Friday furniture’, up 1,200%, ‘Black Friday furniture deals’, up 1,000%, and ‘oakfurnitureland’, up 80%, as well as ‘Swoon’, up 40%.

Other search terms Big Furniture Group reviewed included mattresses, bedroom furniture, dining furniture, living room furniture, sofas, carpets and flooring.

Mattresses

Mattress searches recorded seven peak dates with an index score value of 90 or more. The highest searched date was 24 November with a full score of 100. Related brand searches saw Simba, OTTY, Mattressman, Emma and Tempur all perform strongly. The term ‘mattress black Friday sale’ saw searches rise 1,750%, while ‘black Friday mattress deals’ searches increased 1,250%, ‘black Friday mattress’ searches rose 950% and ‘black Friday mattress deals 2024’ saw an increase of 450%.

Bedroom furniture

Bedroom furniture searches recorded three days of peak activity with an index value over 90. The highest searched date was 17 November with a full score of 100. Popular brand searches included Laura Ashley, Wren, Julian Bowen, Roseland, The Cotswold Company, IKEA, Sharps and Bensons for Beds. The term ‘Boucle’ rose 1,400%, while ‘sofa tables’ searches were up 180% and ‘scandi bedroom furniture’ was up 4,200%. Other terms included ‘double bed frame’, up 3,300%, ‘cheap bedroom furniture sets’, up 450%, and ‘black bedroom furniture’, up 70%.

Dining furniture

Dining furniture searches recorded one day of peak activity with an index value over 90. The most searched day was the 17 November, which scored a full 100. Popular brand searches included The Cotswold Company, Heals, CFS Furniture, Zara Home, Taskers, Cox & Cox, MADE, Fishpools, OKA, West Elm and Housing Units. The terms ‘luxury dining table’, ‘boucle dining chair’ and ‘conservatory furniture’ were all high breakout searches.

Living room furniture

Living room furniture saw two peak days during the month. The most searched day was 3 November that scored the full 100 score. Popular brand related searches included DFS, Sofology, Furniture123, Dunelm and Roseland. The terms ‘living room cupboard’, ‘industrial living room furniture’, ‘living room ceiling lights’, ‘accent chairs for living room’ and ‘bespoke living room furniture’ were all breakout searches, while ‘living room furniture set’ searches rose 70%.

Sofas

Sofa searches saw two peak dates, with the highest score of 100 recorded on 3 November. Popular related searches included ‘bluey sofa’, up 2,450%, ‘black Friday sofa deals’, up 2,200%, ‘bluey plush sofa’, up 2,150% and ‘sofa bed black Friday’, up 1,000%. Other terms included ‘u shaped sofa’, up 190% and ‘best modular sofas UK’, up 200%. As for brands, popular searches included DFS, Darlings of Chelsea, Sofa.com, Sofas by Saxon, MADE, John Lewis and La-Z-Boy.

Flooring & Carpets

Flooring searches saw 11 days scoring over 90, with the highest date being 9 November, scoring the full 100. Carpet searches saw 10 days scoring over 90, with the highest date on 10 November scoring the full 100. Popular brand searches included Tile Mountain, Amtico, Furlong, Likewise, Flooring Hut, Abingdon Flooring, Tapi, Axminster Carpets and Dunelm. Popular search terms included ‘solid oak flooring’, up 50%, and ‘Dunelm carpet runners’, up 50%.

How can these stats help?

This data from Google indicates popular searches from multiple categories. Knowing what consumers are searching online can play an advantage into future promotions and general search behaviour. 

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According to the latest BDO High Street Sales Tracker, total like-for-like (LFL) sales rose 12.63% for the week ending 8 December 2024.

Total homewares LFL sales grew by +6.20% this week from a positive base of +5.50% for the same week last year, representing the category’s twenty-second positive result in 2024. This week’s result was driven by strong non-store sales, as bricks-and-mortar sales ticked into negative territory.

Store sales fell by -0.58% from a positive base of +2.55% for the same week last year. Non-store sales, which have been negative for thirty-two weeks this year, recorded a second consecutive positive result, surging by +34.10% from a base of +5.73% for the same week last year.

Total in-store LFL sales were down -3.12% from a negative base of -8.47%. Non-store sales, which are likely to have benefitted from Cyber-Monday discounts, rose +58.78% from a base of -1.29% for the same week last year that did not include Cyber Monday.

Commenting on the results, BDO said: “This week began with the Cyber-Monday e-commerce promotional day.  Lifestyle, fashion and homewares total LFL sales reported growth this week, however the strong growth is entirely down to an exceptional increase in non-store LFL sales, while sales at bricks-and-mortar sales fell into negative territory. Overall, early December 2024 was milder and slightly less wet compared to the same period in 2023.

“This week, the UK experienced relatively mild and cloudy weather. Temperatures ranged from 5°C to 10°C, with occasional rain showers and overcast skies. There were also some transient snow events in northern regions, particularly in Scotland and parts of northern England.

“In contrast, the same week last year was colder and wetter. Temperatures were generally lower, ranging from 1°C to 7°C, with more frequent rain and some frosty mornings. There were also periods of drizzle and overcast conditions across much of the country.”

Footfall was down across most destinations this week, down -1.4% overall year-on-year. High street and shopping centre traffic fell by -2.7% and -2.4% respectively while retail park footfall rose by +2.4% compared to the same week last year.

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According to the latest Office for National Statistics (ONS) data, the rate of furniture production rose by 7.3% compared to September, while falling 4.5% on October last year.

Production output is estimated to have fallen by 0.3% in the three months to October 2024, when compared with the three months to July 2024. On the month, production output is estimated to have fallen by 0.6% in October 2024, following a fall of 0.5% in September 2024.

Meanwhile, the value of the manufacture of furniture for October resulted at £894.9m, up 7.1% from £835.4m in September. Against the same period last year, the value fell 5.5% from £947.7m.

As for the value of furniture manufacturer exports, this increased 4.1% to £52.2m for the month from £50.1m. Against last year, exports value fell 34.5% from £79.8m.

The value of domestic furniture manufacture increased 7.3% to £842.7m from £785.3m in the month, while down 2.9% from £867.9m last year.

Monthly real gross domestic product (GDP) is estimated to have fallen by 0.1% in October 2024, largely because of a decline in production output; this follows a fall of 0.1% in September 2024.

Commenting on the GDP figures for October, ONS Director of Economic Statistics Liz McKeown said: “The economy contracted slightly in October, with services showing no growth overall and production and construction both falling.

“Oil and gas extraction, pubs and restaurants and retail all had weak months, partially offset by growth in telecoms, logistics, and legal firms. However, the economy still grew a little over the last three months as a whole.”

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According to the latest GfK Consumer Confidence Index, overall figures increased by one point to -17 in December. Two measures were up and three were unchanged in comparison to last month’s announcement.

The Major Purchase Index, which includes big ticket items such as furniture, is also unchanged at -16; this is seven points higher than this month last year.

The measure for the general economic situation of the country during the last 12 months is the same as last month at -39; this is five points higher than in December 2023.

The index measuring changes in personal finances during the last year is up two points at -7; this is seven points better than December 2023.

The Savings Index has dropped a further three points to +21; this is six points lower than this time last year.

Neil Bellamy, Consumer Insights Director, GfK, says: “In December, consumers adopted the holding pattern we’ve seen for much of 2024, with the one-point increase in the overall Index to -17 very close to the 2024 average of -18.

“Consumer confidence is still far from strong but there is some room for optimism with views on personal finances over the next 12 months up two points versus November and creeping back into positive territory (at +1). This echoes the encouraging positive scores we saw in this measure from March to August. However, with the major purchase measure unchanged at -16 in December, consumers are still thinking twice about big-ticket purchases and whether they will bring Christmas cheer.

“Significantly, views on the economy are unchanged from November (-39 over the last 12 months; -26 for the next 12 months) which suggests people don’t know where we are going. We will need to see robust improvements in these perceptions of the economy before we can start talking about sustained improvements in the consumer mood. In a nutshell, it’s the continuing uncharitable view on the UK’s general economic situation that’s suppressing consumer confidence.”

Commenting on the summary for 2024, Neil continued: “Overall, 2024 has been another year of ups and downs in consumer confidence but much less so compared with recent years. In 2024, there was an eight-point difference between the highest and lowest score. In 2023, it was a difference of 23 points, and in 2022 it was 30 points. So volatility is down but will it stay that way?

“Of all the major events in 2024, the UK General Election was the most impactful, with initial post-election optimism giving way to a large seven-point fall in September as consumers were spooked by Government messages about the state of the economy and difficult choices to be made.

“Looking at the consumer’s willingness to spend, Black Friday 2024 delivered a vital boost to retailers. Figures from GfK’s point-of-sale data reveal a strong Black Friday sales performance with sales of technology and durables, homeware, and seasonal products up 1.8% in value and 7.7% in volume overall versus Black Friday 2023. Turnover in Black Friday week hit £992 million, a figure that’s 110% better than the average week in 2024.”

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Debit cards remained far and away the most common method of payment, increasing to 62.0% of transactions (66.7% by spending). Taken together with credit cards, card payments accounted for over 75% of transactions and 85% of spending.

Overall, customers visited shops more frequently but made smaller purchases, as the cost of living crisis continued to pinch in 2023. The total number of transactions rose from 19.6 billion to 21.0 billion while the average amount spent (per transaction) fell from £22.43 to £22.03.

Meanwhile, card fees paid by retailers continued to grow. The total amount paid by retailers to banks and card schemes rose by over 25% in 2023, at an extra cost of £380 million. This brought the total card fees paid to £1.64 billion. Card companies continue to raise these fees without transparency or justification and retailers hope that the Payment Systems Regulator (PSR) will now implement meaningful reforms to tackle the lack of competition and rising costs identified in their current market reviews.

Cash remains a vital form of payment for a sizeable minority of the population, particularly for its role in budgeting. This has made it important to many households during the recent cost of living squeeze. All large retailers are committed to accepting cash in their stores, which has a lower processing cost than other forms of payment and we welcome the new FCA rules introduced this year to support consumers’ continued access to cash. However, the dominance of cards as the preferred payment method highlights the urgency for reform on costs.

The BRC is calling for the following actions to reduce costs for hard-pressed retailers:

• Meaningful reforms in the PSR’s final reports into card fees: The Payment Systems Regulator must implement meaningful reforms through its final reports into cross border interchange fees and scheme and processing fees to increase competition and reduce costs in the payment market.
• A Commercial Cards Market Review: Given the 14% rise in commercial card fees (by turnover), we call on the PSR to initiate a market review into Commercial Card interchange fees, which continue to rise unchecked, to ensure the whole payment market is functioning effectively.
• Open banking: We want to see the growth of Open Banking in the UK, without replicating the harms in the existing card system.Open Banking should bea viable alternative to cards both online and at point of sale, at a fairer price to retailers.

Chris Owen, Payments Policy Advisor, British Retail Consortium said: “Persistent inflation and the cost of living crisis continued to affect households across the country and many consumers used cash to budget more effectively.

“However, the dominance of card payments continues apace, accounting for over 85% of spending. Card fees continue to rise at a substantial rate and the PSR must act upon the harms it has identified in its current market reviews. It must move swiftly to reform the market and implement remedies including price caps on fees and price rebalancing measures.”

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According to the latest BDO High Street Sales Tracker, total like-for-like (LFL) sales declined 18.32% for the week ending 24 November 2024.

Total homewares LFL sales dropped by -5.05% this week from a base of -3.65% for the same week last year, representing the category’s twenty-seventh negative result in 2024.

Store sales for homewares declined by -3.00% from a base of +0.55% from the same week in 2023, indicating the category’s twenty-fifth negative result in 2024.

Total in-store LFL sales sank by -16.80% from a base of +4.07% for the same week last year. Total non-store LFL sales collapsed by -22.36% from a base of -1.68% for the same week last year.

Commenting on the results, BDO said: “This week’s LFL results were negative across all retail segments in both store and non-store channels, with total in-store recording the worst LFL sales outcome since March 2021 and total non-store being at its lowest since February 2022.

“The weather was marked by wintry conditions with bitterly cold and strong winds, sleet, snow, ice and heavy rain in some places caused by Storm Bert. The same week last year witnessed cold temperatures with lows of -5°C as well as frost and wetness in many areas of the UK.”

Total footfall depreciated by -9.9% compared to the equivalent week in 2023. Footfall on the high street saw the sharpest drop, falling by -15.3%, while shopping centres saw footfall decline by -8.7%. In contrast, retail parks saw a slight increase of +0.5%.

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According to the latest new company listings data for November 2024 via Companies House, furniture retail and lighting incorporations stood at 107, while carpet and floor coverings retail filings resulted at 40.

Furniture manufacturer registrations, which includes codes for the manufacture of kitchen, office, shop and other furniture such as upholstery, totalled 69, with carpet manufacturer incorporations at three. Floor and wall covering filings resulted at 71, while there was one wallpaper manufacturer registration.

New companies for the manufacture of mattresses saw four filings, while the soft furnishings sector had 19 registrations.

Wholesale of furniture, carpet and lighting incorporations stood at 70, while filings for agents involved in the sale of furniture and household goods registered 115. Furniture repair filings resulted at 15.

In total, November saw 514 new company incorporations across the furnishing industry.

For the full list of each company name, address, incorporation details, date and code, download our easy-to-use spreadsheet.

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According to the latest Barclays Consumer Spending Index, which includes both debit and credit cards, furniture store spending growth decreased 3.6%, while transaction growth was down 0.8% against the same month last year.

Home improvement and DIY stores saw spending growth fall 5.6%, with transaction growth down 8.2%. Department stores saw spending growth decrease 2.2%, with transaction growth up by 3.1%. Discount stores saw a decrease of 2.3% in spend growth, while transaction growth was up 0.1%, and Garden centres experienced an increase of 4.2% in spend growth and an uptick of 2.6% in transaction growth.

Overall, consumer card spending contracted -0.5 per cent year-on-year in November – the first decline since July and significantly lower than the latest CPIH inflation rate of 3.2 per cent. Essential spending saw its steepest fall in over five years, down -3.1 per cent. However, non-essential spending remained in growth, at 0.8 per cent, supported by a strong performance from bars, pubs, and clubs (3.5 per cent) and entertainment (10.8 per cent) as Brits prepared for the festive season and enjoyed blockbuster releases at the cinema.

Karen Johnson, Head of Retail at Barclays, said: “Brits are still prioritising quality time out with family and friends, evidenced by the strong performance of pubs and cinemas in November. People are finding to find ways to enjoy life’s little luxuries, and the festive season is no exception, with consumers making cutbacks so they can afford magical moments.

“After a tentative recovery, retail’s performance was dampened in early November. However, many shoppers use the Black Friday sales period to get discounted gifts for loved ones and cross items off their wishlists, providing a boost for retailers.”

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According to the latest BRC-KPMG Retail Sales Monitor, UK Total retail sales decreased by 3.3% year on year in November, against a growth of 2.6% in November 2023. This was below the 3-month average growth of -0.1% and the 12-month average growth of 0.5%.

Food sales increased 2.4% year on year over the three months to November, against a growth of 7.6% in November 2023. This is below the 12-month average growth of 3.7%. For the month of November, Food was in growth year-on-year.

Non-Food sales decreased 2.1% year on year over the three-months to November, against a decline of 1.6% in November 2023. This is above the 12-month average decline of 2.2%. For the month of November, Non-Food was in decline year-on-year.

In-store Non-Food sales over the three months to November decreased 2.2% year on year, against an increase of 2.2% in November 2023. This is above the 12-month average decline of 2.5%.

Online Non-Food sales decreased by -10.3% year on year in November, against an average decline of -2.1% in November 2023. This was below the 3-month average decrease of 1.7% and below the 12-month average decline of 1.5%.

The online penetration rate (the proportion of Non-Food items bought online) decreased to 40.6% in November from 41.4% in November 2023. This was above the 12-month average of 36.4%.

Helen Dickinson, Chief Executive at the British Retail Consortium, said: “While it was undoubtedly a bad start to the festive season, the poor spending figures were primarily down to the movement of Black Friday into the December figures this year. Even so, low consumer confidence and rising energy bills have clearly dented non-food spending. Spending on fashion was particularly weak as households delayed purchases of new winter clothing, while health spending was boosted by the season’s arrival of coughs and colds.

“Retailers will be hoping that seasonal spending is delayed not diminished and that customers get spending in the remaining weeks running up to Christmas. If not, retailers will be feeling the squeeze from both sides as reduced revenues are met with huge additional costs next year. The Budget, as well as the introduction of new packaging levies, will cost retailers over £7 billion extra next year. How effectively the government works the industry to mitigate these costs will determine the extent of price rises and job losses in the future.”

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According to BRC-Sensormatic Footfall Monitor, Total UK footfall decreased by 4.5% in November (YoY), down from -1.1% in October.

High Street footfall decreased by 3.7% in November (YoY), down from -3.6% in October. Retail Park footfall decreased by 1.1% in November (YoY), down from +4.8% in October. Shopping Centre footfall decreased by 6.1% in November (YoY), down from -1.6% in October.

Footfall decreased year-on-year for all four nations, with Northern Ireland falling by 2.8%, England by 4.2%, Scotland by 6.8%, while Wales experienced the biggest decline at 7.1%.

Helen Dickinson, Chief Executive of the British Retail Consortium, said: “Some northern cities also suffered particularly badly due to Storm Bert, which caused travel disruption towards the end of the month. Retailers remain hopeful that the Black Friday and Christmas sales will help to turn around the declining footfall seen through most of 2024, crucial as we enter the “golden quarter”.

“Retail not only contributes to the economy of local areas but is essential to everyday life in communities across the country. New costs bearing down on retailers in 2025, including from rises in Employer National Insurance, National Living Wage, and packaging taxes, means investment in jobs, stores, and high streets will likely be curtailed. If the Government wishes to bolster footfall and the growth and investment that would come with it, it must help retailers mitigate the impact of the £7 billion additional costs they face from next year.”

Andy Sumpter, Retail Consultant EMEA for Sensormatic, commented: “Retail store visits dipped in November as consumer confidence remains volatile, perhaps not helped by post-Budget spending jitters and shoppers withholding festive purchases, opting instead to shop around for the best prices or hold out for further discounting. 

“This lacklustre footfall performance will have come as a blow for many retailers, who would have been counting on getting early Christmas trading results under their belts before the start of advent.  However, it’s worth noting that these figures do not include Black Friday and the Saturday of the Black Friday weekend – tipped as one of the top busiest days for store shopping during peak trading – which will hopefully jump start seasonal shopping. 

“Now, all eyes turn to December, where retailers hope to make up for lost ground and turn around their festive fortunes.  This will rely not only on effective merchandising and shored up inventory availability, but on building the compelling and immersive experiences that bring the seasonal magic to life in-store.”

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According to the latest BRC-Opinium Consumer Sentiment Monitor for November 2024, consumer expectations over the next three months of their:

• Personal financial situation improved slightly to -3 in November, up from -4 in October.
• State of the economy worsened slightly to -19 in November, down from -17 in October.
• Personal spending on retail rose slightly to +3 in November, up from +2 in October.
• Personal spending overall remained at +17 in November, the same as in October.
• Personal saving remained at -9 in November, the same as in October.

Helen Dickinson, Chief Executive of the British Retail Consortium, said: “While there was a very slight improvement in people’s expectations of their personal financial situation, this was offset by declining expectations of the wider economy. Personal retail spending remained positive, edging up slightly, though this was to be expected as consumers prepare for the festive season.

“Within this, non-food spending expectations remained low, though expectations of spending on eating out improved the most out of all categories, as people prepare for Christmas catchups with friends and relatives.

“The last month clearly did little to shift the dial for households either positively or negatively, however, the same cannot be said for the retail industry. With over £7bn in additional costs in 2025 resulting from the Budget, retailers will have little choice but to raise prices or reduce investment in jobs and shops. To mitigate this, government must ensure that changes to the business rates system, planned for 2026, bring about a meaningful reduction in bills for all retailers.”

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According to the latest BDO High Street Sales Tracker, total like-for-like (LFL) sales declined 5.33% for the week ending 17 November 2024.

Total homewares LFL sales grew by +1.54% this week from a base of +9.08% for the same week last year, denoting the twentieth positive result in 2024 for the category.

Store sales for homewares rose by +2.00% from a strong base of +11.10% from the same week in 2023, symbolising the category’s twenty-second positive result in 2024.

Total in-store LFL sales fell by -2.16% from a base of +1.89% for the same week last year. Total non-store LFL sales collapsed by -8.81% from a base of -1.97% for the same week last year.

Commenting on the results, BDO said: “Total LFL sales recorded the lowest result since the final week of April 2024 as both store and non-store results sank into negative territory, with the latter seeing the weakest outcome since October 2023.

“Homewares was the only segment that recorded a positive outcome this week, potentially due to cocooning influenced by the onset of wintry weather conditions.

“This week was colder but largely dry with foggy and frosty conditions with some blustery showers towards the end of the week. The same week last year was foggy with wet and windy conditions as well as snowfall in northern parts.”

Overall footfall rose by +1.8% compared to the same week last year, largely driven by footfall results in retail parks which climbed by +4.5%. High street footfall also increased by +1.6%, while shopping centres saw a decline of -0.3%.

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