Consumers are holding back spending despite positive economic headlines. Confidence is continuing to waver in the face of economic and political uncertainty and it's no secret that retailers are struggling, with a number of high profile profit warnings, CVA and administration announcements in the headlines. 

However, there are pockets of increasing spending as consumers' prioritise their 'wellness' and the desire to collect 'experiences' rather than 'things'. Unsurprisingly, it is these areas - including health and beauty, travel and casual dining - where we are seeing resilient levels of M&A activity. With the summer upon us, wage growth on the up, employment rates high and interest rates low, could consumers be warming up?