Consumer Snippets – 3 July 2026

Soft start to summer for retailers

CBI Distributive Trades data out last week confirmed a weak start to summer trading.

The retail sales volumes balance fell to -54 in June from -46 in May, the sharpest annual decline in over a year, with sales judged the poorest for the seasonal time of year since January 2024. Online volumes fell to flat from +11% the prior month, and retailers expect the YoY balance at -45 in July, pointing to no near-term rebound. Online sales are expected to bounce back strongly at +37%.

The backdrop remains unhelpful with the GfK confidence stuck at -23 and the Bank of England holding rates in June at 3.75%. The summer window has opened on the back foot, and with cost pressures climbing, the pressures within the consumer sector are not abating quite yet.