“It has been a gloomy start to Summer spending. Sales volumes declined in June, falling for the fourth time in six months due to the colder than usual June and high costs for households. Categories sensitive to weather, such as clothing performed particularly poorly. Some electronic categories had a better month due to consumers replacing their pandemic purchases, and sports aficionados upgraded their home entertainment systems to better experience the excitement of the Euros, Wimbledon, and upcoming Olympics. Books also sold well as consumers readied their summer reads for the holidays.

 

“With the summer social season nearly in full swing, and a new Government offering a fresh approach to the economy, retailers are hopeful that consumer confidence will improve, and spending will pick back up. The King’s speech laid the foundations for a more modern and dynamic British economy, and retailers look forward to working closely with Government to maximise the industry’s contribution. This includes greater investment in skills and training, and using reforms to planning laws to create thriving town and city centres.”