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Financial News: UK Retailers Report Worst Year On Record: BRC

UK Retailers Report Worst Year On Record: BRC

01/12/2021 - 01:23:00 (RTTNews)

(RTTNews) - UK retailers logged the worst year on record for sales growth due to the Covid-19 pandemic, data released by the British Retail Consortium, or BRC, showed Tuesday.

In 2020, total retail sales decreased 0.3 percent, the worst annual change since records began in 1995, the BRC said.

Food sales grew 5.4 percent and non-food product sales were down 5 percent from the last year.

In December, total sales advanced 1.8 percent and like-for-like sales grew 4.8 percent on a yearly basis.

Household related and food item purchases were top of Christmas shopping lists with historic growth rates in contrast to fashion, accessories and beauty products which experienced double-digit declines, Paul Martin, UK head of retail, KPMG said.

"Further restrictions and the closure of many non-essential shops resulted in a dismal December performance for those retailers on the high street and conditions will continue to be challenging as we enter another national lockdown," Martin added.

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