Deloitte comments on ONS retail sales figures

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

“The unexpected rise in retail sales in September will be a positive boost for retailers, particularly when combined with the uplift of 0.9% in sales volumes in the three months to September.

“There are signs that big ticket purchases are back on the cards for some, with an uptick in the sale of tech like computers and phones, as well as household goods and furniture. This indicates that budgeting for major purchases is becoming more of a priority for consumers.

“Meanwhile, food sales volumes fell as food inflation ate away at consumer’s appetite to spend on essentials. Our research shows that almost half (46%) of consumers bought more food and drink on discount or sale in the last quarter in order to combat higher prices.

“With the Golden Quarter in full swing, retailers will be launching a variety of products and ensuring good stock availability to entice further consumer spending. While many businesses are cautious about making investment decisions amid a mixed macroeconomic picture, these results will be encouraging. A sustained recovery in consumer confidence will be key for both retailers and consumers to feel emboldened to spend more.”

ENDS