Deloitte comments on ONS retail sales

Commenting on today’s ONS retail sales figures, Kelly Miely, retail partner at Deloitte, said:  
 
“In major contrast to June, retail sales were dampened in July by very wet weather as consumers spent less on summer clothing and seasonal goods.

“Despite inflation easing, prices continue to be high compared to a year ago, particularly the cost of food products, putting a squeeze on consumer spending. Coupled with rising interest rates, both consumers and retailers continue to be exposed to tricky economic conditions that are impacting sales growth.

“Retailers will be hoping for a brighter forecast for the rest of the year. There will continue to be winners and losers across the industry, with those coming out on top being the retailers that focus on creating the best combination of value, quality and experience for their customers.”