UK Retailers Face Muted Christmas Amid High Prices and Cautious Shoppers
• UK retailers face a muted Christmas season as shoppers cut back on non-essential purchases amid high food and energy costs • Black Friday sales provided some lift but failed to offset broader declines in homeware and non-food categories • Food sales were up 7.6% but overall retail sales grew just 2.7% year-over-year when accounting for inflation • Retailers hope for a "last-minute flurry" of Christmas spending but face challenges in 2023 from rising costs • Separate data showed mixed holiday spending across categories like clothing and restaurants amid cold, wet weather