PwC comments on ONS retail sales figures - June 2019

Jul 18, 2019

Lisa Hooker, consumer markets leader at PwC, said:
 
“Despite the wet and unseasonably cool weather dampening the performance of many retailers in the first half of June, a retail sales growth of +4.1% compared to last year, suggests the heatwave in the final week of the month brought more of us out onto the high streets. This year on year growth can also be explained by the fact that much of England was distracted by the World Cup in June of last year. 
 
“Physical stores appeared to benefit the most in June, with grocery and online sales growth both slowing, albeit against tougher comparatives. But, to what extent did the earlier sales and discounting we mentioned last month help boost sales? It’s not that consumers can’t spend, they’re just being more careful when choosing what they spend their money on. 

"The question is whether the high street can continue to take advantage of the current sales momentum and the relatively positive consumer sentiment that we identified in our survey in Spring. We’ve already seen one profit warning from a clothing retailer this morning, and there could be more to come.
 
“Although not captured in these figures, it’s interesting to see that restaurants had a particularly good month, according to both the Visa and Coffer Peach surveys released earlier this week. This is in contrast to pubs, which fared worse, probably due to the lack of prolonged sunshine and major sporting events that gave them a boost last year.”

 

ENDS

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