Retail sales volumes were up 0.4% in December month-on-month, following a 0.1% fall in November.
The month saw particular growth in online sales, including online jewellers where demand for precious metals rose after a lull in November. There was also modest growth in supermarket sales while non-food stores saw sales fall 0.9%.
Retail sales had been expected to fall 0.1% (Trading Economics).
Nicholas Hyett, Investment Manager at Wealth Club, said, “There was no festive cheer on the high street, which continues its long slow demise.
“Non-food stores saw sales fall 0.9% in December as shoppers increasingly look online to do their Christmas shopping. That is a depressingly predictable headline, and the result is companies like Claire’s, the Original Factory Shop and Russell & Bromley going into administration.
“Among online retailers, jewellers enjoyed a particularly golden Christmas. In uncertain times shoppers seem to be being drawn to dual purpose jewels that not only tick the Christmas present box, but provide a convenient long-term store of value as well.”
