ONS Retail Figures Comment: Summer of sport encouraging retail spending, brands need their house in order

Today’s ONS retail sales figures show a bump of 2.9% in May. These numbers are a step in the right direction after a torrid start to the year for consumers and retailers. Two May bank holidays coupled with – just a little – better weather has stirred up some momentum at the checkout. There’s some hope we’re turning a corner but there’s no room for complacency. Inflation might be stabilising but the cost-of-living sting is still hurting the pockets of millions, meaning the need to throw everything at customer loyalty strategies.

Now, with EURO 2024 underway and the Olympics on the horizon, it’s set to be a big summer of sport that retailers’ hope will provide a much-needed shot in the arm. To get in good shape, strategies that deliver on customer experience and loyalty while ensuring speedy service and delivery will be the name of the game. There’s no room for error if the summer of sports’ Midas touch is to rub off.