PwC comments on November 2025 ONS retail sales figures

Commenting on the Office of National Statistics retail sales index for November 2025, Jacqueline Windsor, Head of Retail at PwC UK, said: 

“Retail sales continued to decline in November, albeit headline monthly sales fell by a less precipitous 0.1% compared with October’s revised 0.9% decline. However, while the ONS seasonally adjusts for the fact that Black Friday fell within its reporting period this year, but outside the period last year, monthly data should still be interpreted with caution.

“Compared with this time last year, retail sales volumes excluding petrol rose by a lacklustre 1.2%, which translates into 2.8% more into retailers’ tills. Fashion, household and electronics all reported upticks in sales, no doubt helped by earlier discounting in the run up to Black Friday this year. Conversely, grocery volumes contracted as frugal shoppers continued to put less in their trolleys; while food prices may have fallen slightly compared with October, they are still more expensive compared with last year.

“Not surprisingly given the extent of Black Friday sales online and the rainy weather discouraging shoppers from high streets, online retail took a bigger proportion of sales, rising from a revised 28.4% in October to 28.6% in November. This is the highest penetration of online sales since the tail end of the pandemic in December 2021.

“Although November’s sales figures are better than expected, given the slow start to the Golden Quarter this year, they will have been helped by the timing of Black Friday and the earlier and deeper discounts retailers offered to encourage shoppers to spend.

“With Budget uncertainty now over and less than a week before the big day itself, retailers will be hoping that December gives them more to cheer about.”

-Ends-

Notes to Editors:  
Based on the 7am edition of ONS data released on 19th December here: https://www.ons.gov.uk/businessindustryandtrade/retailindustry/bulletins/retailsales/november2025