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Deloitte comments on ONS retail sales

24 March 2023

Commenting on today’s ONS retail sales figures, Kelly Miely, retail partner at Deloitte, said: 

“February saw a second consecutive month of higher-than-expected retail sales volume growth, in a sign that the industry may be turning a corner.

“However, the unexpected increase in inflation, with food prices at a 45-year high, still points to a strain on both consumers and retailers remaining.

“Businesses have been putting a greater focus on cost and efficiency. Overall, retailers are going for more tactical opportunities, whether it is making strategic investments or difficult decisions on reducing costs, trying to unlock value for the longer term and ensure the recovery and growth of their businesses.”