Bargains provide the carrot for retail sales in February, says KPMG

Bargains provide the carrot for retail sales in Feb

David McCorquodale, UK head of retail at KPMG, comments on the publication today of the latest ONS retail sales figures

Also on KPMG.com

Commenting on the publication today of the latest ONS retail sales figures, David McCorquodale, UK head of retail at KPMG said:

“Non-food sales are the biggest contributors to the 2.2% growth in total sales in February compared with the same period last year.  Household goods and some fashion categories performed well when compared against a quiet month last year, with better weather helping the retailer.

“With volumes up across the board in all categories – food, petrol and non-food – the impact of price deflation in petrol and food in particular has hit sales values in those categories.  The rest of the sector continues to fight hard to grab its share of the ‘tenner off a tank’ benefit consumers are now gaining at the petrol pump.  What most are finding is that the consumer is loath to part with that saving unless a bargain is dangled in front of them”

-ENDS-

 

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About KPMG

KPMG LLP, a UK limited liability partnership, operates from 22 offices across the UK with approximately 12,000 partners and staff.  The UK firm recorded a turnover of £1.9 billion in the year ended September 2014. KPMG is a global network of professional firms providing Audit, Tax, and Advisory services. It operates in 155 countries and has 162,000 professionals working in member firms around the world. The independent member firms of the KPMG network are affiliated with KPMG International Cooperative ("KPMG International"), a Swiss entity.  Each KPMG firm is a legally distinct and separate entity and describes itself as such. 

This article represents the views of the author only, and does not necessarily represent the views or professional advice of KPMG in the UK.

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