Food sales growth slowed in the three months to November, increasing by 7.6%, down from the 12-month average growth of 8.4%.
However, grocery fared better than the rest of the retail, which saw only 2.7% in November, against a growth of 4.2% in November 2022 according to the BRC and KPMG’s Retail Sales Monitor.
Shoppers delayed their festive shopping, despite the wealth of Black Friday sales, as BRC boss Helen Dickinson OBE said retailers are hoping for a “last-minute flurry of festive frivolity”.
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IGD CEO Sarah Bradbury pointed that food and drink sales were down for the second month in a row.
“The comparatives to November ’22 paint a slightly better picture with an increase in sales, although this was offset by a marginal decline in volume. Footfall for the month was down compared to November ’22, a likely result of storms Ciarán and Debi bringing wetter and more windy weather across the country.”
Bradbury highlighted that IGD’s Shopper Confidence Index enjoyed a slight rise in November, driven by a rise in confidence among the lowest income earners, which she said was boosted by the National Minimum Wage increase that was annouced in the Autumn Statement.
“Although lower income earners still expect to be ‘about the same’ financially next year, rather than actively better off. Trust in the industry rose again, with 30% now trusting the food and consumer goods industry to keep prices low, compared to 24% in October ’23. This is likely to continue further if general sentiment continues to improve,” she said.
