Deloitte comments on ONS retail sales figures

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

“For the first time this year, retail sales fell more than expected, as two bank holidays and further good weather were not enough to entice spending.  A late Easter combined with the sunniest April on record brought some seasonal sales forward, meanwhile continued inflationary pressures from food, furniture and household goods hampered sales volumes.

“Overall, consumers remain cautious in the face of persistent inflation, increased utility costs and ongoing geopolitical uncertainty. While this transpired into fewer purchases in May, there is a broader picture of improving household finances. Consumers have been saving at one of the highest levels on record, and with robust real wage growth, this could generate some helpful tailwinds for the retail sector throughout the rest of 2025. With warm weather set to continue, retailers will hope to see a boost from the sale of summer food, clothing and outdoor offerings, resulting in a return to growth in the months ahead.”

ENDS