Paul Martin, UK head of retail at KPMG, reflects on ONS retail figures.
“As mirrored in our own BRC-KPMG retail sales monitor, it was a disappointing month for textiles, clothing and footwear, which were the only categories to note a year-on-year decrease in growth both on the high street and online. Warmer weather and perhaps uninspiring collections were likely to have dissuaded shoppers from investing in autumn and winter clothing in September. These figures are also likely to be a disappointment for those retailers who were pinning hopes on ‘back to school’ for a much needed boost.
“In contrast, the main contributors to year-on-year retail growth were increasing sales in department and household goods stores, as well as online and other non-store retailers, suggesting that shoppers were opting for home improvements rather than renewing their wardrobes.
“With pricing and inflation very much in the media spotlight this month, October’s figures will be particularly noteworthy. September’s ONS retail sales figures pointed to consumer confidence remaining steady since the EU referendum in June and retailers will be hoping for this trend to continue as we move into the all-important golden quarter.”
For further information please contact:
Simon Wilson, KPMG Corporate Communications
Tel: 0207 311 6651
KPMG Press office
Tel: +44 (0) 207 694 8773
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 revenue of £1.96 billion in the year ended September 2015. KPMG is a global network of professional firms providing Audit, Tax, and Advisory services. It operates in 155 countries and has 174,000 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.
KPMG has launched a state of the art digital platform that enhances your experience and provides improved access to our content and our people, whatever device you are on.