David McCorquodale, UK Head of Retail at KPMG, comments on the latest Retail Sales figures from the Office for National Statistics:
“Sales of clothing picked up in November as the weather finally turned cooler, driving sales of autumn and winter collections.
“However the best is yet to come for the high street. Payday is tomorrow, and shoppers will hit the high street to finish their Christmas shopping. These four days will see a spike in footfall and an uplift in sales in stores.
“The food sector will see sales peak on Monday and Tuesday next week as shoppers buy their festive food for Christmas. However, the sector remains highly competitive and the food market has polarised. While more affluent consumers will be prepared to treat themselves to luxury food items, the recession has left others on a tight budget and these cash conscious consumers will favour value products at the discount grocers. The middle ground is not the place to be this Christmas.”
Notes to editors:
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KPMG LLP, a UK limited liability partnership, is a subsidiary of KPMG Europe LLP and operates from 22 offices across the UK with approximately 11,500 partners and staff. The UK firm recorded a turnover of £1.8 billion in the year ended September 2013. KPMG is a global network of professional firms providing Audit, Tax, and Advisory services. It operates in 155 countries and has 155,000 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.