2024-01-19-莱坊-UK_Retail_Sales_Dashboard_December_2023_2页_549kb

UK Retail Sales Dashboard Summary - December 2023

Core Content Overview

This document provides a monthly and quarterly overview of UK retail sales performance for December 2023, highlighting key metrics such as sales value and volume growth, as well as insights into the impact of major events like Black Friday on the retail sector. It also includes data on e-commerce share of retail spend and a comparison of food versus non-food sales performance.

Key Figures

Monthly Performance (December 2023 vs. December 2022)

• Sales Value Growth (Seasonally Adjusted, Excluding Fuel): +2.3%
• Sales Volume Growth (Seasonally Adjusted, Excluding Fuel): -2.1%
• Sales Value Growth (Including Fuel): +0.6%
• Sales Volume Growth (Including Fuel): -2.4%

Quarterly Performance (Q4 2023 vs. Q4 2022)

• Sales Value Growth (Seasonally Adjusted, Excluding Fuel): +3.9%
• Sales Volume Growth (Seasonally Adjusted, Excluding Fuel): -1.4%

Recent 3-Month YoY Growth (October–December 2023)

• Sales Value Growth: +2.2%
• Sales Volume Growth: -1.4%

Monthly Performance (December 2023 vs. November 2023)

• Sales Value Growth (MoM): -3.6%
• Sales Volume Growth (MoM): -3.3%

Main Points

• The retail sales figures for December 2023 were disappointing, showing a sharp decline compared to November 2023.
• The growth in sales value for December 2023 was the lowest monthly growth rate in 2023, at +2.3% YoY.
• The sales volume growth was also negative (-2.1% YoY) and marked a reversal from the previous month's positive growth (+0.5%).
• On a monthly basis, there was a significant downturn in both sales value and volume, with values down -3.6% and volumes down -3.3% from November.
• The quarterly growth for Q4 2023 was the weakest of the year, with values up +3.9% YoY but volumes declining -1.4% YoY.
• There was a slight contraction in demand as values declined by -0.5% compared to Q3 2023.

Sub-Sector Performance

Monthly Performance by Sub-Sector (Year-on-Year, Seasonally Adjusted)

• Non-Food Sales:
  • September: +0.1%
  • October: +3.2%
  • November: +0.1%
• Food Sales:
  • September: +8.0%
  • October: +7.5%
  • November: +4.2%

E-Commerce Share of Retail Spend

• The document includes a chart showing the percentage penetration of e-commerce in the retail sector, though specific data is not provided in the text.

Additional Insights

• The performance in December 2023 is noted as a stark contrast to the strong November figures, indicating a potential negative impact from Black Friday events.
• The report emphasizes the importance of monitoring retail trends and suggests staying updated with Knight Frank's quarterly dashboards and weekly Retail Note.

Contact Information

• Stephen Springham

  • Title: Partner, Head of Retail Research
  • Phone: +442078611236
  • Email: stephen.springham@knightfrank.com

• Emma Barnstable

  • Title: Associate, Commercial Research
  • Phone: +44 20 8106 1385
  • Email: emma.barnstable@knightfrank.com

Disclaimer

• This document is for general information only and not to be relied upon in any way.
• Knight Frank LLP cannot be held responsible for any loss or damage resulting from the use of this information.
• Reproduction of this material is not allowed without prior written approval.