Soaring gold and silver prices helped lift Great Britain’s retail sales 0.4% in December, giving the high street and online stores a sparkling end to 2025, according to ONS data.
Online jewellers in particular reported a glittery boost in demand as shoppers added precious metals to their portfolios - or their jewellery boxes. Supermarkets also saw a modest seasonal uptick, while non-food stores, including department and clothing shops, felt a 0.9% chill.
Danni Hewson, AJ Bell head of financial analysis, said: “The soaring value of gold and silver helped to nudge up spending in the final month of 2025, with online retailers enjoying a boost as people added the precious metals to their portfolios or their jewellery box. The headline rise in retail sales masks what has been a difficult Christmas for our high streets. People were keen to splurge on tasty treats… but they were still cautious when it came to snapping up gifts for loved ones.”
The fourth quarter as a whole was frostier, with sales volumes slipping 0.3% compared with the previous quarter. Across 2025, retail volumes rose 1.3%, the second consecutive year of growth, but activity remains 1.5% below pre-pandemic levels.
Hewson added: “A long, warm summer of sport helped lift sales earlier in the year, but continued cost pressures and ongoing consumer caution fuelled by Budget uncertainty suppressed activity in those all-important final three months… There will undoubtedly be more names forced to cut costs or close doors, especially if those difficult trading conditions continue into the spring.”