Deloitte comments on ONS Retail Sales figures
18 December 2014
Commenting on today’s ONS retail sales figures, Ian Geddes, UK head of retail at Deloitte, said:
“These are very strong numbers that beat expectations, with growth hitting a 10 year high. Looking beyond the headline figures, we need to take into account that for the last two years Black Friday has fallen in the December trading period. However, this year most of the boost provided by the biggest ever Black Friday has been felt in November, and this is reflected in month-on-month volume growth and strong year-on-year increase online. The extent to which sales have been promotionally driven is highlighted by the steepest decline in store prices for 12 years.
“These results highlight that a more volatile pattern of trading is emerging, where it is becoming harder to predict and therefore to plan for peak demand. Dealing with this peak demand is one of the biggest challenges faced by retailers today. During this key trading period, having the right stock and the right level of staffing, along with resilient and stable platforms in place to serve consumer demand, is critical and can ultimately define success or failure for the entire year. Those retailers that have got this balance right will be the winners this Christmas. For the rest it’s back to the drawing board in January as the planning cycle starts again.”
Notes to editors
In this press release references to Deloitte are references to Deloitte LLP, which is among the country's leading professional services firms.
Deloitte LLP is the United Kingdom member firm of Deloitte Touche Tohmatsu Limited (“DTTL”), a UK private company limited by guarantee, whose member firms are legally separate and independent entities. Please see www.deloitte.co.uk/about for a detailed description of the legal structure of DTTL and its member firms.
The information contained in this press release is correct at the time of going to press.
Member of Deloitte Touche Tohmatsu Limited.