Deloitte comments on ONS retail sales

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

“The fall in October’s retail sales, a first since May, is disappointing for the sector during the first month of the Golden Quarter. Consumers held off on making purchases ahead of Black Friday discounting, while unseasonably mild weather delayed purchases of winter goods. However, the three months to October do represent a more balanced picture, with uplifted spending in almost every category.

“Food sales volumes fell as persistent food inflation impacted consumers’ appetite to spend at supermarkets. Meanwhile, the fall in non-food sales also reflects the weight of high prices on a value conscious consumer.

“With inflation falling for the first time since March, there are hopes that consumers may be encouraged to spend in the run up to Christmas, particularly if inflation continues to ease and interest rates fall. With Black Friday on the horizon, and some of the busiest shopping days of the year fast approaching, retailers will be hoping for a positive end to 2025. Elsewhere, the outcome of the Budget will no doubt have an impact on how both consumers and retailers feel in the coming months.”