UK's LFL sales rise 4.1% in Nov 2022 despite inflation: Report

Fashion total LFLs climbed by 8.5 per cent in November from a base of +51.3 per cent for November 2021, according to the High Street Sales Tracker report by financial services company BDO LLP. Instore LFLs for fashion jumped by +7.5 per cent from a rebounding base of +768.9 per cent last year. November marks the lowest result for in-store fashion LFLs since the UK was in lockdown back in February 2021. In-store fashion LFLs were positive all through November.

Total non-store LFLs rose by 5.5 per cent barely offsetting a base of -5.3 per cent for November last year. The penultimate week helped to carry November total LFLs to the best monthly result since July, and yet it also marks the fourth consecutive month of below inflation-level growth rates.

Total LFL sales were fairly steady across channels, however despite Black Friday promotions being spread through the latter half of the month, total in-store LFLs still posted the lowest result since February 2021. November denotes the 21st consecutive month of positive total LFL sales.

November opened with total LFLs recording a meagre rise of 0.20 per cent from a base of +27.27 per cent for the corresponding week in November 2021. The second week of November saw total LFLs jump by 7.25 per cent from a good base of +41.46 per cent for the same week last year. In the third week of the month, total LFLs climbed by 7.30 per cent from a base of +38.55 per cent for the same month last year. In the final week which included Black Friday, total LFLs grew by 4.26 per cent from a base of +38.98 per cent for the same week in November 2021.

Overall footfall was positive throughout November, with the largest growth (6.5 per cent) in the second week of the month. High street footfall was positive all through November, with its highest result (8.5 per cent) in the second week and climbing by 6.6 per cent during Black Friday week. Shopping centre footfall was also positive throughout November, with its largest growth (6.5 per cent) in the second week and its lowest (3.7 per cent) during the final week, which included Black Friday.

Retail park footfall opened the month with a growth of 0.4 per cent and ended the month flat with -0.1 per cent. November sales started on a flat note picking up pace in the middle of the month as many retailers initiated early Black Friday-related promotions. Black Friday week, on the other hand, was less impressive as a result of falling non-store sales across lifestyle and homeware segments. Only Fashion LFLs broke onto positive ground that week.

While ‘golden quarter’ sales picked up in November, there will be concern that LFLs have once again fallen short of the most recent estimates of inflation rates across retail segments. As the festive period gets underway in earnest, consumer confidence remains in the doldrums and retailers will be hoping for a bumper December to help navigate further cost pressures as we head towards an uncertain new year, added the High Street Sales Tracker.

The High Street Sales Tracker outlines weekly like-for-like sales changes of some 80 mid-tier retailers with around 10,000 individual stores across various segments including clothing and accessories.

Fibre2Fashion News Desk (NB)