Deloitte comments on latest ONS retail sales data
17 October 2013
Commenting on today’s ONS retail sales figures, Ian Geddes, UK head of retail at Deloitte, said: “Today’s results will be welcomed by the retail sector after a set-back in August. Retailers will take confidence from continued underlying growth ahead of the all-important Christmas season. However, whilst consumer confidence is undoubtedly rising as the wider economic data continues to improve, wage growth remains stubbornly low. Therefore, many consumers are yet to benefit from having more money in their pockets. This will limit consumer spending power as we approach the seasonal ‘golden quarter’.”
“With fierce competition to win consumers’ limited disposable income, retailers must ensure they get the fundamentals exactly right; product and brand. Those who deliver highly desirable and creative products with distinctive and well-understood branding continue to reap the rewards.”
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