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Retail chains across Europe are still fighting the same old battle: thin margins, price-sensitive shoppers, and promotions that eat into profitability. Meanwhile, a segment sitting right under their noses is quietly walking past them and into the arms of specialist resellers.

Italian ICT distribution achieved a striking recovery in Q2 2026 after several quarters of stagnation. The distribution channel returned to positive territory with a growth of 9% YoY. That led to a YoY growth of +4% in the first part of the year. Yet, beneath this optimism boost, lies an uneven landscape shaped by price spikes and a stark divide between commercial resilience and consumer shifts.

The cautious mood we've been tracking across European consumer sentiment hasn't lifted. If anything, it's hardened into something more structural. In May 2026, the EU consumer confidence index stood at -18.20 points, and that headline figure holds up when you look at the individual countries behind it. French household confidence fell to 82. UK retail footfall dropped 2.6% year-over-year. Germany's HDE-Konsumbarometer slid 2.56 points to 92.29. Spain's Consumer Confidence Index fell 4.7 points year-over-year to 77.7.