
British retail sales figures showed an unexpected bump in activity over the Christmas shopping period that exceeded expectations – particularly given the current UK cost of living crisis.
But beneath the headlines of positive sales in recent months, it was more surprising to see physical stores performing markedly better than online shops. Many multi-channel retailers, including Next and Seasalt, said their physical stores outstripped online sales, while online retailers such as Asos and Boohoo experienced poor Christmas trading. Revenues for online grocery firm Ocado fell by 3.8% in 2022 despite record Christmas trading.