In the latest sign of tough trading conditions on the high street, figures from the British Retail Consortium (BRC) show sales growth over the pivotal "golden quarter" between October and December came close to flatlining.
For the three months to December - when many retailers make the bulk of their annual profits - the BRC said total UK retail sales growth was 0.4% year-on-year as shoppers prioritised spending on food and drink over the festive season. Once inflation was factored in, retail sales by volume slid over the year.
For 2024 overall, total sales increased by 0.7% from 2023, highlighting a cautious approach to consumer spending as households continue to grapple with higher prices after the worst inflation shock in decades.
Separate figures from Barclays show zero growth in consumer card spending in December, as households cut back on essential items and pub and restaurant meals in favour of spending on experiences.
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