David McCorquodale, KPMG Head of Retail, comments on the latest ONS retail statistics
Commenting on the latest ONS retail statistics, David McCorquodale, KPMG Head of Retail, said:
“New year in-store and online promotions have given retailers the boost they needed after a sluggish Autumn/Winter season, with overall sales volumes up 5.2% year on year per the ONS Statistics. In fact, both value and volume of sales were up across the board which, considering store prices were shown to have fallen for the 19th consecutive month, shows consumers felt the bargains on offer were worth checking out now rather than waiting for further reductions. The only exception to this being food sales which took a slight downturn in post-festive trading.
“Homeware and clothing sales were the star players during the month with many consumers waiting for the January sales to bag big ticket items. Department stores also performed particularly well with their omni-channel offerings proving popular.
“With Valentine’s Day being the key promotional event in February, it remains to be seen whether Grocers have been left heartbroken, or if discounts combined with the theatre of the store have proven the perfect match.”
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