Deloitte comments on ONS retail sales figures
Commenting on today’s ONS retail sales figures, Oliver Vernon-Harcourt, head of retail at Deloitte, said:
“After a positive start to the year, February’s retail sales volumes fell as cold and wet weather deterred the purchasing of new seasonal items and reduced high street footfall. A fall in sales could also be a consequence of consumers spending more in January to take advantage of the sales period to secure the best value.
“As the prospect of rising inflation looms, consumers will likely continue to feel protective of their hard-earned cash. In order for them to part with it, whether that be on essentials or more discretionary items, retailers will need to work hard to engage and excite customers and demonstrate real value for money. Alongside this, retailers will need to experiment with new AI shopping experiences to keep pace with the changing shopping journey and attract the customers that are embracing new technologies.”
ENDS
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