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Financial News: UK Retail Sales Fall; Consumer Spending Down

UK Retail Sales Fall; Consumer Spending Down

02/09/2021 - 00:54:00 (RTTNews)

(RTTNews) - UK retail sales declined for the first time since last spring as the current lockdown has hit non-essential retailers harder than in November, data from the British Retail Consortium showed Tuesday.

Total sales decreased 1.3 percent on a yearly basis in January, while like-for-like sales grew 7.1 percent.

"The current lockdown has hit non-essential retailers harder than in November, with the new variant hampering consumer confidence and leading customers to hold back on spending - especially on clothing and footwear," Helen Dickinson, chief executive at BRC, said.

"Meanwhile, retailers have worked incredibly hard to expand their online delivery and click and collect offerings to ensure everyone can get the products they need during lockdown," Dickinson added.

Data from Barclaycard showed that consumer spending dropped 16.3 percent in January, the biggest fall since May. On the other hand, supermarket spending advanced 17 percent. Further, data showed that online retail spending surged 73 percent.

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