Head of retail, Paul Martin, comments on the latest ONS retail figures.
Commenting on the latest ONS retail sales figures for the month of February 2018, Paul Martin, UK head of retail at KPMG, said:
“The latest retail sales figures from the ONS reinforce the fact that February was a reasonable month for grocery and online retailers, with sales volumes increasing by 0.8%. That said, non-food sales did not fare as well, being the main category not to encounter an uptick.
“We may well be hearing news of falling fuel prices, rising wage growth and a general easing of inflation, but it’s clear that it will take time for the tension in purse strings to ease a little. Shoppers are still overlooking more discretionary items, much to these retailers’ peril.
“Beyond the economic headwinds, the retail industry is undergoing major structural change – with a surplus of physical space on the high street at the forefront of this. The retailers managing to battle on through are those who are closest to their customers, those successfully bridging the gap between the high street and online, and those remaining firmly on the radar of would-be shoppers.”
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