In the final three months of 2024, UK retail sales growth was minimal and below inflation, with consumers cautious and cutting back on purchases, especially in non-food sectors. The weak sales figures for the “golden quarter” of October to December reflect ongoing budget management amidst economic challenges, leading to poor performance in brick-and-mortar stores and stagnant consumer card spending in December. Forecasts for 2025 predict further challenges for retailers, including lower sales volumes, price increases, and reduced investments in stores and jobs, highlighting the pressures faced by businesses in the current economic climate.
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