Consumer spending fell 2.3% year-on-year in December as areas moving into higher tiers, and reimposed lockdowns, dented the kind of activity usually seen in the festive season. But online was a bright spot.
December may have been all about on-off lockdowns or semi-lockdowns in the UK but a key sales tracker on Friday showed that online sales didn’t do as well as they might have done in those circumstances.
Joules had a better than expected festive trading season and despite a massive plunge is physical store sales, it still managed to drive revenues upwards overall as its web sales more than filled the gap.
This year has increased the importance of Chinese consumers to the luxury sector as the overall market has shrunk while China’s purchases have surged. And there's more to come in the next few years too.
The Vancouver-based athleticwear brand announced net revenue of $1.1 billion for the third quarter on Thursday, up 22% compared to the same period in the previous year, as the company’s DTC sales saw strong growth.
At first glance, November’s UK retail sales released Friday looked quite good. Despite the pandemic-induced lockdown, total like-for-like sales last month increased 3.3%, the strongest month of sales since January.
Total shopper numbers across British retail destinations fell 55.4% in the week to Nov. 21 year-on-year, mainly reflecting the impact of a second full week of lockdown, market researcher Springboard said on Monday.