Brits gearing up for summer spending spree, Business Movers Index predicts

UK retailers are looking forward to a boost in summer sales as a quarter of Brits plan to increase their spending over the next three months, according to the latest Virgin Media O2 Business Movers Index.

This optimism follows a challenging second quarter for businesses, despite a promising 4% rise in weekend high street footfall compared to the first three months of the year.

The quarterly Movers Index, which combines anonymized mobile data from O2 Motion with national consumer and business polling, paints a hopeful picture for the retail sector. Over half (55%) of UK retailers anticipate a positive impact from the summer holidays on their business. This comes as consumers indicate a strong desire to spend, primarily fueled by seasonal activities.

“The latest Virgin Media O2 Business Movers Index highlights the potential for summer to bring a welcome retail boost, as Brits flock to the high street,” said Jessica O’Connor, Director of Product at Virgin Media O2 Business. “Mobile data reveals a surge in retail trips this quarter, signalling a promising shift in contrast with last year’s shopping dip over the same period.”

The report suggests that summer spending will largely revolve around food and entertaining at home. A significant 60% of Brits are more inclined to host a barbecue than visit a pub, with over half (54%) cutting back on pub trips to save money.

“Picky bits” for garden gatherings are also high on the list, with crisps (56%), fruit (50%), and sausage rolls (46%) topping the picnic essentials. In response, 41% of retailers plan to introduce special summer deals and discounts to capitalize on this demand.

Despite a slight year-on-year dip in weekend high street visits, 56% of Brits still prefer in-person shopping, valuing the ability to see and feel products before purchasing. Loyalty to local businesses also remains strong, with 55% of shoppers prioritizing supporting their high street, even willing to pay an average of 35% more for an item in-store than online.

Technology is also playing a role in drawing customers back, with 48% of consumers using tech solutions like real-time stock availability (29%) and personalized in-store offers (20%) to enhance their shopping experience.

Find out more and access the report here: Virgin Media O2 Business website.