Deloitte comments on ONS retail sales
21 June 2024
Commenting on today’s ONS retail sales figures, Oliver Vernon-Harcourt, head of retail at Deloitte, said:
“A double Bank Holiday in May boosted the retail sector, which saw its first retail sales volume growth since January. The tide could be finally turning for retailers, with more consumers releasing their purse strings and spending on discretionary items such as clothing and furniture. There are signs that certain recessionary behaviours are easing, as non-food store sales saw the largest volume rise since April 2021.
“The summer of sport has kicked off, and with warmer days upon us, the retail sector will be hoping to see spending momentum continue. Consumers are feeling more confident about their disposable income, but the next step for retail recovery will be seeing this translate into sustained levels of spending.”
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