United Kingdom

Details

  • Industry: Retail and Consumer Goods
  • Type: Press release
  • Date: 18/01/2013

Retail sales fall flat, with little growth on the horizon 

 

David McCorquodale, UK Head of Retail at KPMG, comments on the latest Retail Sales figures from the Office for National Statistics:

 

“In line with the BRC/KPMG statistics already released, these figures reflect a fairly flat end to 2012.  Consumers held off spending until the last possible moment, hoping for bargains, which pushed Christmas spending into the last two weeks of the month and put retailers under intense pressure to cut their prices to boost sales. 

 

Whilst a greater proportion of sales were generated online, the total sales figures show little growth.  The increasing shift from high street to online can only continue, with the rise in popularity of tablets and new initiatives like click and collect helping to drive sales in the online space for retailers.  However, these sales come with additional costs, such as distribution, which will erode retailers’ overall profitability.

 

“Whilst some retailers have reported a strong end to the year, with the total picture being flat, some of the bad news is clearly yet to emerge. As was the case last year, 2013 has begun with some big names being forced into administration reflecting in particular the shifting sands caused by the advancement of technology.”

 

-Ends-

 

Notes to editors:

 

For press enquiries please contact

 

Zoe Sheppard, PR Manager at KPMG: +44 (0)117 905 4337 

zoe.sheppard@kpmg.co.uk             

 

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 11,000 partners and staff.  The UK firm recorded a turnover of £1.7 billion in the year ended September 2011. KPMG is a global network of professional firms providing Audit, Tax, and Advisory services. We operate in 152 countries and have 145,000 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.

 

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