Retail fortunes improved in July, according to ONS figures

Retail fortunes improved in July

Commenting on today’s ONS retail sales figures, David McCorquodale, UK head of retail, said:

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“Today’s ONS retail figures echo the findings of the BRC-KPMG Retail Sales Monitor published earlier this month, with retail fortunes having improved in the month of July. Warmer weather drove consumer spending when some may have expected post Brexit blues, but the effect of the EU Referendum vote will take a long time to trickle down to the family purse strings.

“There was a clean sweep of growth across all retail sectors in July, with non-food stores being the biggest contributor to the improvement, followed closely by food. Following disappointing summer fashion sales in previous months, it appears the weather and well-timed promotions finally spurred shoppers to invest in their summer wardrobes, as well as putting picnics and barbeques on the menu.

“After a sluggish month in June, online sales also experienced a much needed boost, with timely e-promotions and the need to make last-minute summery purchases certainly contributing to the improvement. 

“With back to school sales presenting the next opportunity for retailers to woo consumers, eyes will be focussed on future retail results in order to ascertain whether this momentum will be continued.” 

-ENDS- 

 

For further information please contact: 

Simon Wilson, KPMG Corporate Communications

Tel: 0207 311 6651

Mobile: 07785373397

E: simon.wilson@kpmg.co.uk  

 

KPMG Press office

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