UK Retail Growth Slows as Shoppers Hold Out for Black Friday Bargains

UK retailers face a sluggish October as shoppers wait for discounts and clarity on the government’s upcoming budget.

Retail sales across the UK slowed to their weakest pace since May, as cautious shoppers delayed spending ahead of the government’s budget announcement and the much-anticipated Black Friday sales.

According to new figures from the British Retail Consortium (BRC) and KPMG, retail sales grew by just 1.6% in October, down from 2.3% in September. Food sales growth slipped to 3.5%, while non-food sales were almost flat, rising only 0.1% year-on-year. Retailers reported softer sales in categories such as footwear, appliances, and stationery, as milder weather and the promise of November discounts kept wallets closed.

A separate Barclays report revealed that nearly one in three consumers postponed major purchases last month, while confidence in household finances dropped sharply, from 74% to 63%. Overall consumer sentiment reached its lowest level since 2022, with spending on debit and credit cards falling by 0.8%.

Retail leaders, including BRC Chief Executive Helen Dickinson, said October’s lull reflects a mix of economic uncertainty and anticipation. “Many shoppers are waiting for Black Friday deals and cooler weather before making big purchases,” she noted, adding that food sales were “driven more by higher prices than higher volumes.”

As retailers brace for one of the year’s busiest shopping events, all eyes are on Black Friday to deliver the boost the UK’s retail sector urgently needs.