Skip to main content

Deloitte comments on ONS retail sales

17 November 2023

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

“October’s worse than expected retail sales performance represents further signs of weak consumer spending. This follows a prolonged period of economic strain on consumers’ personal finances, driving cautious spending in both essentials and discretionary categories.

“However, with inflation easing more sharply than expected, and with the ‘Golden Quarter’ in full swing, retailers will be hoping for a fruitful festival period, as more consumers expect to spend more this Christmas compared to last year. It remains a highly competitive environment, and retailers will need to prioritise maintaining good availability and an efficient, enjoyable customer experience both in-store and online.”