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Retail sales boosted by Black Friday | Retail sales boosted by Black Friday |
(35 minutes later) | |
UK retail sales rose at their fastest annual rate in more than 10 years in November, thanks to the effects of Black Friday, official figures show. | UK retail sales rose at their fastest annual rate in more than 10 years in November, thanks to the effects of Black Friday, official figures show. |
Sales rose 6.4% compared with November last year, the highest annual increase since May 2004. | Sales rose 6.4% compared with November last year, the highest annual increase since May 2004. |
On a monthly basis they rose by 1.6%, with growth in all areas for the first time since December 2013. | On a monthly basis they rose by 1.6%, with growth in all areas for the first time since December 2013. |
US-style discounts for Black Friday took off in the UK this year, with stores seeing record sales. | US-style discounts for Black Friday took off in the UK this year, with stores seeing record sales. |
Electrical goods sales jumped 32% from a year earlier and sales at department stores were up 15%, both of which were the biggest increases since records began in 1988, the Office for National Statistics said. | Electrical goods sales jumped 32% from a year earlier and sales at department stores were up 15%, both of which were the biggest increases since records began in 1988, the Office for National Statistics said. |
Online sales increased by 12.9% compared with last year. | Online sales increased by 12.9% compared with last year. |
However, last year Black Friday fell in December, making the comparison more pronounced. | |
Lower prices | Lower prices |
"These numbers verify the shift in spending patterns happening in the final quarter of the year. Black Friday led to unprecedented demand," said Natalie Berg from Planet Retail. | "These numbers verify the shift in spending patterns happening in the final quarter of the year. Black Friday led to unprecedented demand," said Natalie Berg from Planet Retail. |
"What we don't know is to what extent did this simply bring spending forward," she continued. "I suspect it slowed in the first couple of weeks in December." | "What we don't know is to what extent did this simply bring spending forward," she continued. "I suspect it slowed in the first couple of weeks in December." |
Average retail prices fell by 2% compared with last year, the largest fall since August 2002, mainly due to the large drop in petrol prices. | Average retail prices fell by 2% compared with last year, the largest fall since August 2002, mainly due to the large drop in petrol prices. |
Prices at food stores were also lower, recording their largest fall in since June 2002. | Prices at food stores were also lower, recording their largest fall in since June 2002. |
"The decline in store prices reflects fierce competition in the retail sector and provides further evidence that inflation will fall below 1% in the coming months," said David Kern, chief economist at the British Chambers of Commerce (BCC), a group which represents businesses. | "The decline in store prices reflects fierce competition in the retail sector and provides further evidence that inflation will fall below 1% in the coming months," said David Kern, chief economist at the British Chambers of Commerce (BCC), a group which represents businesses. |