LONDON, Jan. 22 (Xinhua) -- Britain's retail sales fell by 1.9 percent in 2020 when compared with 2019, the largest annual drop since records began in 1997, the British Office for National Statistics (ONS) said Friday.
"Because of the impact of the coronavirus pandemic, 2020 has seen the retail sector suffer its largest annual fall since records began of 1.9 percent, with continued restrictions on non-essential retail impacting the sector as a whole," said the ONS.
Figures showed that clothing stores decreased by 25.1 percent in 2020 year-on-year, the largest annual plunge on record.
By contrast, the amount spent in online retail sales for 2020 increased by 46.1 percent when compared with 2019, marking the sharpest yearly soar since 2008, the ONS data revealed.
"All sectors of retail reported large increases in total online sales in 2020," said the ONS, with online sales of food stores climbing by 79.3 percent -- a record annual increase for the sector.
In December 2020, retail sales rose by 0.3 percent monthly following a 4.1 percent fall in November, said the ONS.
"Disappointing news on UK consumer spending in December as retail sales volumes rose just 0.3 percent month after a 4.1 percent m/m dip in November as they were hampered by only a temporary re-opening of non-essential retailers," said Howard Archer, chief economic adviser to EY ITEM Club, a London-based economic forecasting group.
Echoing Archer, James Smith, a developed markets economist at financial services firm ING, said British retailers may not fully benefit from post-COVID consumer boom.
Smith said that history suggests retailers should expect "a quick rebound in the spring" and "the current pace of infections and vaccinations suggests in-person shopping could resume at some point in mid/late March."
The ONS data came after Britain on Thursday recorded another 37,892 coronavirus cases and 1,290 COVID-related deaths, as the country is stepping up efforts to vaccinate the people in a bid to bring the pandemic under control.
England is currently under the third national lockdown since the outbreak of the pandemic in the country. Similar restriction measures are also in place in Scotland, Wales and Northern Ireland.
To bring life back to normal, countries such as Britain, China, Germany, Russia and the United States have been racing against time to roll out coronavirus vaccines. Enditem