David McCorquodale, UK Head of Retail at KPMG, comments on the latest Retail Sales figures from the Office for National Statistics:
“This uptick in sales will give retailers a confidence boost and is hopefully a sign that consumers are feeling more secure about the future. The popularity of the latest must-have gadgets was a major driver behind this surge in sales, as consumers splurged on the newest ranges.
“But one swallow doesn’t make a summer and retailers need to continue to find ways to drive sales and keep this momentum going. With Easter on the horizon, I hope to see retailers launch innovative campaigns to attract shoppers to their stores.
“Maintaining consumer confidence is vital. The Government made some positive steps yesterday in the Budget to put more pounds in pockets, but the long term recovery of the retail sector is of course linked to the overall performance of the economy. If this improves and jobs are created, we should see a subsequent long term improvement in retail sales.”
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Notes to editors:
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About KPMG
KPMG LLP, a UK limited liability partnership, is a subsidiary of KPMG Europe LLP and operates from 22 offices across the UK with over 12,000 partners and staff. The UK firm recorded a turnover of £1.8 billion in the year ended September 2012. KPMG is a global network of professional firms providing Audit, Tax, and Advisory services. We operate in 156 countries and have 152,000 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. KPMG International provides no client services.
