Deloitte comments on ONS retail sales figures
20 February 2015
Commenting on today’s ONS retail sales figures, Ian Geddes, UK head of retail at Deloitte, said:
“Today’s data shows signs of the first green shoots of recovery in the grocery market, which recorded both value - and perhaps more importantly volume growth - year on year following declines in December 2014. However, competition remains intense, as highlighted by retailers’ Christmas trading statements. In fact the real surprise in the January data is the largest decline in average store prices since 1997. While we would expect the January sales to have an impact, much of the decline was driven by the fall in the cost of fuel. Online sales grew by a solid 12% year-on-year with a particularly strong performance from food retailers, who recorded a 14.9% rise.
“In the household electricals category we can clearly see the lingering impact of Black Friday promotions. While value sales in November 2014 rose by 20.5% against a 17% decline the previous year, in January 2015 they rose by only 0.2% against 6.8% in January 2014. However, we will not be able assess the full impact of record Black Friday promotions across the whole of the retail sector until we start to see full year results.”
Notes to editors
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