SCOTTISH retailers saw a bright end to 2022, with a rise in sales, according to the latest KPMG Scottish retail sales monitor collected for the Scottish Retail Consortium (SRC).
For the five weeks to 31 December, total sales in Scotland increased by 11.3% when compared with December 2021. Even when adjusted for inflation, these figures still remain a positive, sitting at 3.9%.
Total food sales told a positive story for Scotland as well, as the SRC reported an increase of 11.5% compared to last year, which sat above the UK average of 7.9%.
David Lonsdale, director at the SRC, said: “December’s retail sales shone compared to recent months and the comparable month in the year before as shoppers returned to spending and took advantage of the first Christmas in three years without pandemic-era curbs or instructions to shun socialising.”
Paul Martin, partner and UK head of retail at KPMG, gave a warning for the months ahead for retailers as more consumers face continued hardships caused by the cost-of-living crisis.
He said: “With Christmas behind us, retailers are facing a challenging few months as consumers manage rising interest rates and energy prices by reducing their non-essential spending, and industrial action across a number of sectors could also impact sales.