RTT experts expect a mixed Q3 for retailers, with a gradual sales increase driven by value but with continuing cost pressures. While consumers have more money in their pockets, over half are concerned about the UK economy and are managing budgets carefully. Consumers will continue to scrutinise value for money based on what matters to them at different moments, and it will be down to retailers to deliver a compelling reason to buy, and buy now.
Retail Think Tank July 2025: A mixed outlook for Q3

Meet the Retail Think Tank members

Linda Ellett
Head of Consumer, Retail & Leisure
KPMG

James Sawley
Head of Retail & Leisure
HSBC

Miya Knights
Director
Zendu Contracting Services Ltd

Nick Bubb
Retail Consultant
Bubb Retail Consultancy Ltd

Natalie Berg
Retail Analyst
NBK Retail

Jonathan De Mello
Founder & CEO
JDM Retail Ltd

Charles Burton
Executive Director
Oxford Economics

Maureen Hinton
Retail Analyst & Consultant

Mike Watkins
Head of Retailer & Business Insight
NielsenIQ