Retail sector suffers worst year ever

Retail sales across the UK declined by 0.1% in 2019, with new data highlighting the “worst year on record” for the sector. Total sales for 2019 were largely flat, compared with 1.2% growth during the same period in 2018, according to the latest sales monitor from the British Retail Consortium and KPMG. During November and December, total sales declined by 0.9% compared with the same period in 2018. Helen Dickinson, chief executive of the BRC, said: “2019 was the worst year on record and the first year to show an overall decline in retail sales. This was also reflected in the CVAs, shop closures and job losses that the industry suffered in 2019. “Twice the UK faced the prospect of a no-deal Brexit, as well as political instability that concluded in a December General Election – further weakening demand for the festive period.” She added that Black Friday has now overtaken Christmas as the largest shopping week of the year for non-food items. Dickinson said: “Retailers also faced challenges as consumers became both more cautious and more conscientious as they went about their Christmas shopping.” To send feedback, e-mail pui-guan.man@egi.co.uk or tweet @PuiGuanM or @estatesgazette