Deloitte comments on ONS retail sales figures

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

“Increased discounting and sales in January enticed consumers to spend more on bigger ticket items, creating a generous uplift in retail sales growth – the biggest monthly rise in almost two years. It is clear that value is a priority for many consumers, with nearly a third taking advantage of in-store discounts and loyalty cards to keep costs down.

“The growth across non-food stores and household goods stores points to consumers prioritising finding the best deals, but the bigger picture could be that some are starting to loosen the purse strings. The wet and stormy weather of January also led to a boost to online sales as consumers opted to shop online rather than venturing out to the high street.

“In the last quarter we saw consumers starting to feel better about the state of the UK economy. With inflation continuing to ease, and further interest rate cuts expected, these results could be a sign that consumers may be more empowered to spend on non-essentials in the coming months.”

ENDS