Black Friday turned into Black November for retailers
Neither price cuts nor promotions could stop 38% slump compared to November 2019
The economy is still mired in the postlockdown doldrums, the November sales report of the Retailers Liaison Committee (RLC), an association of clothing, homeware and footwear retailers, shows.
Sales for the month were down 10.7%, despite deeper price cuts and longer-running promotions, as consumers continue to tighten their belts amid the Covid-19 pandemic. Black Friday retail sales were down 38% compared to 2019, despite a surge in e-commerce sales prompted by consumers switching to online retail as a means of avoiding busy shopping centres...