UK retail sales rose 0.7% in 2024, but December's jump can't offset economic challenges ahead.

UK retail sales saw a 0.7% increase in 2024, with food sales up 3.3% and non-food sales down 1.5%. Despite a 3.2% jump in December, driven by Black Friday and Christmas, the last quarter showed only a 0.4% rise, underperforming due to weak consumer confidence and economic challenges. Retailers face further pressure in 2025 from rising taxes and wage costs, potentially leading to job cuts and higher prices.

2 months ago
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