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Deloitte comments on ONS retail sales

In this press release references to “Deloitte” are references to one or more of Deloitte Touche Tohmatsu Limited (“DTTL”) a UK private company limited by guarantee, and its network of member firms, each of which is a legally separate and independent entity.

Commenting on today’s ONS retail sales figures, Ian Geddes, head of retail at Deloitte, said: “Retail sales continued to struggle in May, despite both values and volumes rising by 11.8% and 12% compared to April. In a month that saw two bank holiday weekends, some easing of outdoor social gatherings, and warmer weather for many, retailers may have been looking for the first green shoots of recovery to make up for lost ground in March and April.

“Overall food sales values were flat, at +0.3% month-on-month, but, whilst grocers may have hoped for stronger food sales in what is traditionally the start of barbecue season, online grocery sales remain strong, up by 21.1% compared to April and now accounting for 11.3% of all food sales. More encouragingly, non-food sales are up month-on-month in both value (+24.2%) and volume (+23.7%) for the first time since lockdown, which, for some, will mark the early signs of ‘normality’ for this time of year. However, 41.5% of non-food sales occurred online in May, up from 15.8% in February 2020 before lockdown.

“A wider disparity between online and in-store sales remains this month in spite of garden centre and hardware store re-openings. Total online sales stood at 33.4% this month, beating April’s record sales, though this is unlikely to have offset sales usually seen in-store over this period. In addition to household goods, purchases have also likely been driven by beauty products and, more notably, clothing items as many consumers continue to work from home, with an increased requirement for video conferencing and a more relaxed ‘work’ wardrobe.

“Looking ahead, as non-essential retailers begin to phase-in store reopening plans, some consumer anxiety will remain. During lockdown, consumers have pivoted to fewer but bigger food shops. Whether this trend will also translate into non-food remains to be seen. For retailers, there are two options: a difficult balancing act to between re-creating a familiar shopping experience whilst implementing and maintaining strict new hygiene practices, or innovating and re-inventing the shopping experience for a post-COVID-19 world. Deloitte data shows that 46% of UK consumers currently feel safe visiting a store, but building on this confidence will be key for drawing more shoppers back to the High Street over the coming months.”

Deloitte senior economist comments on today’s inflation figures

Commenting on this morning’s inflation figures, Debapratim De, senior economist at Deloitte, said: “The rise in both core and headline measures of inflation vindicates the Bank of England’s decision to keep interest rates on hold in January. Further rises would significantly reduce the chances of a rate cut in the near future.”

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ChangeScout scoops Bronze at Brandon Hall Group Excellence Awards

Deloitte’s ChangeScout, a change management solution that accelerates and simplifies complex change programs in real time, has won a coveted Brandon Hall Group bronze award for excellence in the “Best Advance in the Unique HR or Workforce Management” category.

Organisations are struggling to keep up with the rapid pace of today’s digital disruptions, while simultaneously facing pressure to deliver quicker, more seamless change transformation. ChangeScout combines cutting-edge technology, onsite access to experts, and Deloitte’s unique change methodology to transform the way change is delivered.

ChangeScout enables organisations to drive successful transformations by covering the key aspects of change management, including methodology, technology, expertise and insights, enabling organisations to innovate and grow to get the most value out of major change investments.

“We developed ChangeScout to provide structure when companies are implementing new programs and making crucial changes to their business,” said Mike Bentley, managing director, Deloitte Consulting LLP. “As social enterprises, organisations increasingly need to become more adaptive to the external forces impacting their business and workforce, increasing the need for specific tools to manage the process. We are thrilled the Brandon Hall Group recognised the value and potential of ChangeScout.”

This is the second consecutive year Deloitte has been recognised by the Brandon Hall Group for its Human Capital products. In 2017, Deloitte’s ConnectMe received Gold recognition in the Best Advance in Emerging Workforce Management Technology.

“We were blown away,” said Mike Cooke, chief executive officer of Brandon Hall Group. “Our research was confirmed by the entrants’ responsiveness to the needs of employers who seek to align technology to the goals of their businesses. Every Technology Award entry embodied a win-win proposition for employers and employees.”

A panel of veteran, independent senior industry experts, and Brandon Hall Group senior analysts and executives evaluated the entries based upon the following criteria:

  • Product: What was the product’s breakthrough innovation?
  • Unique differentiators: What makes the product unique and how does it differ from any competing products?
  • Value proposition: What problem does the product solve and/or what need does this product address?
  • Measurable results: What are the benefits customers can expect to experience as a result of using this product?

About Deloitte

Deloitte provides industry-leading audit, consulting, tax and advisory services to many of the world’s most admired brands, including nearly 90 percent of the Fortune 500 and more than 5,000 private and middle market companies. Our people work across the industry sectors that drive and shape today’s marketplace to make an impact that matters — delivering measurable and lasting results that help reinforce public trust in our capital markets, inspire clients to see challenges as opportunities to transform and thrive, and help lead the way toward a stronger economy and a healthy society. Deloitte is proud to be part of the largest global professional services network serving our clients in the markets that are most important to them.

Deloitte refers to one or more of Deloitte Touche Tohmatsu Limited, a UK private company limited by guarantee (“DTTL”), its network of member firms, and their related entities. DTTL and each of its member firms are legally separate and independent entities. DTTL (also referred to as “Deloitte Global”) does not provide services to clients. In the United States, Deloitte refers to one or more of the US member firms of DTTL, their related entities that operate using the “Deloitte” name in the United States and their respective affiliates. Certain services may not be available to attest clients under the rules and regulations of public accounting. Please see deloitte.com about to learn more about our global network of member firms.