Deloitte comments on latest ONS retail sales data
19 September 2013
Commenting on today’s ONS retail sales figures, Ian Geddes, UK head of retail at Deloitte, said: “Whilst the month-on-month decline may grab some of the headlines, the year-on-year increase tells a more interesting story. Growth was strong, and would have been stronger but for the performance of the grocers – who were up against strong comparatives from 2012.
“Recent positive economic news indicates the recovery is underway. Nevertheless, there is a continued concern about the imbalance between wage growth and inflation. As average wage increases remain below inflation, there is a substantial proportion of the population that are yet to feel their financial situation improve. Although economic conditions are easing, the recovery is not uniform across the UK. This will resonate with mass market retailers who continue to see many customers struggling to increase spending.
“Categories including homeware, electricals and other big ticket items will be hoping for a significant uptick as activity in the housing market ramps up.”
Notes to editors
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