Furniture retail sales rise in November 2024; Flooring too

Retail furniture sales increased in November compared to last month but declined year over year.

According to the latest data from the Office for National Statistics, retail sales of furniture and lighting rose 4.8% to £1.29 billion from £1.23 billion in October. Compared to the previous year, sales fell by 9.7% from £1.43 billion.

Retail sales of floor coverings increased month on month, by 11.7% to £307 million from £274.8 million. Compared to the same period last year, sales rose by 17.2% from £261.9 million.

Retail sales volumes (quantity bought) are expected to rise by 0.2% in November 2024, after a 0.7% fall in October 2024. As for value (amount spent), this rose by 9.7% month on month to £. 43.8 billion.

Non-food store sales volumes – total department, apparel, housewares and other non-food stores – rose 0.2% during the month with a strong positive contribution from other retail sales (not specified elsewhere). This subsector rose 7.9% in November, rebounding from a 7.1% decline in October 2024. Home goods stores rose 1.1%, with furniture stores making the largest upward contribution to growth.

The amount spent online, known as “online spending values,” decreased by 4.3% during November 2024, the largest decline since March 2022. Compared to November 2023, sales values ​​decreased by 3.1%. Total spending — the sum of in-store and online sales — rose 0.3% during the month. As a result, the proportion of sales made online fell from 27.5% in October 2024 to 26.2% in November, the lowest level since February 2024.

Commenting on the retail sales figures for November, ONS chief statistician Hannah Wensselbach said: “Retail sales rose slightly in November after a decline last month. For the first time in three months, there was an increase in sales in food shops, especially supermarkets. Also a good month for home goods retailers, most notably furniture stores.

“Clothing store sales fell sharply again, with retailers reporting difficult trading conditions. With the November retail sales survey covering the four weeks to 23 November, Black Friday itself would fall within the December figures. However, our figures take this into account Shift in timings to give us the best picture of what’s happening in stores.

Responding to the latest ONS Retail Sales Index figures, Chris Hammer, Director of Insight at the British Retail Consortium, said: “After a positive start to the golden quarter, November sales stagnated, with rising energy bills and low consumer sentiment impacting spending. Clothing has suffered a decline in sales, as mild weather has put many off updating their winter wardrobe. Consumers were also anticipating the key Black Friday sales week for beauty and electrical deals, which saw their first declines of the year. The last two months of the year account for more than a fifth of total sales, making it a vitally important period – especially for non-food items. With a poor performance in November, retailers are hoping shoppers will come out strong in the final days before Christmas.

“Given the fragile start to the festive season, retailers will view the £7 billion new Budget costs facing the industry in 2025 with increasing concern. Rising employer National Insurance contributions, a rise in the National Living Wage and the new packaging tax will increase pressure on the industry Already paying more than their fair share of taxes, with sales growth unable to keep up, retailers will have no choice but to raise prices or cut costs – closing stores and freezing hiring The Government must ensure that the proposed business rates reform does not result in any shop paying higher prices than it already does.