The figures from the Office for National Statistics show sales volumes up by 1.9% in January and 3.6% higher than pre-pandemic levels.
Shachar Bialick, CEO and founder of Curve, a financial super-app, comments on the latest ONS Retail Sales figures: “Retail sales rebounded in January as Omicron cases dropped and consumer confidence increased. But we’re heading into a choppy year and these figures should be taken with a pinch of salt. We’re hoping for brighter skies but the reality is that inflation is already reaching new record levels, tax hikes and rising bills are set for the coming months, and people may start to feel less confident with their money.
“What’s vital is for people to feel empowered and in control of their money. Being able to have a full view of your budgets and spending, across multiple accounts, will go a long way in empowering people to feel financially confident.”