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News Release

London

JLL UK Retail comment on ONS retail sales data


LONDON, UNITED KINGDOM, 18th August 2016 – Commenting on the latest retail data from ONS, Tim Vallance, head of JLL UK Retail, said: “While big ticket discretionary spending, including overseas holidays, cars, home improvements and other higher value retail purchases are more susceptible to a slowdown in consumer spending post Brexit; mainstream retail and leisure is likely to remain more resilient as these figures demonstrate. The fall in sterling seems also to have led to a boost in tourism which will particularly benefit heritage hotspots across the UK.”

“The importance of the High Street shouldn’t be underestimated in a world where online is growing. To most consumers, shopping is now simply a seamless way of spending their leisure time and obtaining goods; whether online or offline, through clicks or bricks, via multi or omni-channel, it is now simply ‘commerce’.