November retail sales were not as bad as they could have been, given spiking coronavirus cases and the lack of a pandemic relief bill. GlobalData Managing Director Neil Saunders pointed out that retailers quite intentionally pulled into October spending that would otherwise have taken place in November with their early Black Friday deals. But analysts warned that the signs of depressed consumer confidence were present in November's results. Retailers can only wait and hope for a general rollout of the vaccine and a new stimulus.
In the meantime, retailers should brace themselves for consumers to grow increasingly more wary of spending, especially those already worried about their jobs, observers said.