close

BRC reports ‘worst year on record’ for retail in 2019

Christmas shopping

The British Retail Consortium (BRC) has reported that 2019 was the worst year on record for retail in the UK.

Total sales for 2019 decreased by 0.1%, compared with growth of 1.2% in 2018.

The BRC announcement details how UK retail sales increased by 1.7% on a like-for-like basis from December 2018, when they had decreased 0.7% from the preceding year. 

Story continues below
Advertisement

The three month and 12 month averages were -0.9% and 0.5% respectively

It also took took November and December together to ‘iron out’ Black Friday distortions, meaning like-for-like sales declined 1.2% compared with the same period in 2018.

Helen Dickinson OBE, chief executive of the BRC, commented: “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.

Adding: “The industry continues to transform in response to the changing technologies and shopping habits. Black Friday overtook Christmas as the biggest shopping week of the year for non-food items. Retailers also faced challenges as consumers became both more cautious and more conscientious as they went about their Christmas shopping.”

She concluded: “Looking forward, the public’s confidence in Britain’s trade negotiations will have a big impact on spending over the coming year. There are many ongoing challenges for retailers: to drive up productivity, continue to raise wages, improve recyclability of products and cut waste. However, this takes resources, so it is essential the new Government makes good on its promise to review, and then reform the broken business rates system which sees retail pay 25% of all business rates, while accounting for 5% of the economy.”

In November, AMP reported on how the BRC welcomed a new report identifying flaws in the business rates system.

Read the full story here:

Tags : brcBritish Retail Consortiumretail
Alex Douglas

The author Alex Douglas

Leave a Response