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Deloitte comments on ONS retail sales

17 February 2023

Commenting on today’s ONS retail sales figures, Oliver Vernon-Harcourt, head of retail at Deloitte, said:

“January’s retail sales rose unexpectedly despite consumers facing a longer wait for payday and ongoing high food prices.

“The retail industry is entering a transitionary period as inflation eases and consumer confidence shows early signs of improvement.

"However, times continue to be tough for the retail sector. Leaders' focus will remain on sales growth while managing higher costs and changing demand. To do this, retailers will need to ensure they offer the right balance of quality and value for consumers to spend their hard-earned money.

"For those that continue to invest in both their people and customer engagement, better times are ahead.”