Deloitte comments on ONS retail sales figures

Commenting on today’s ONS retail sales figures, Cande Cooper, retail partner at Deloitte, said: 

“Retail sales were better than expected in March following a disappointing February, albeit lifted considerably by fuel sales. The start of the Easter holidays gave a boost to sales volumes – particularly for clothing and footwear retailers as consumers looked to transition to new, spring wardrobes. On the other hand, food stores were the only category to see a drop in volumes, as consumers continue to buy less to manage the cost of their shopping at the till.

“The first quarter of the year saw consumer confidence face its largest drop in four years, as geopolitical tensions added additional uncertainty for consumers already feeling the pinch of the cost of living. While it’s reassuring to see sales volumes improve in March, continued growth will depend on the resilience of consumer budgets as inflation rises. This should also further emphasise retailers’ need to cater towards value-driven consumers – those looking for quality products at the best price point.”

ENDS