Retail sales for December were negative for the first time on record last year, according to research by BDO. Like-for-like sales fell 1.6% last month, compared to strong growth of 6.6% in December 2019. BDO head of retail and wholesale Sophie Michael said: “Early January spending figures suggest shoppers weren't simply waiting for discounting, but instead stopping discretionary spend altogether as the nation hunkers down for a long winter lockdown.” Separate research by the British Retail Consortium found that footfall was down 46.1% year-on-year in December, but was up 19.3% on November 2020.
Read more: City AM
Visit our website here for more news and product information, or click the button below to submit a short enquiry form for your finance needs.