The Director General of the British Retail Consortium, Stephen Robertson has said that the Olympic period was "an unknown."
He added that "shoppers were more interested in watching the magnificent Olympics rather than getting out on to the high-street."
Mr Robertson also said that there was hope for Christmas as retailers prepare for the festive season; "let's cross our fingers that the good feelings we got out of the Olympics and the Paralympics carry on in to the fourth quarter of this year."
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New 'smart ticketing' plans will also be introduced so travellers can receive automatic compensation payments for late trains.
The 41-year-old father of six died last Thursday - a week before he and the band had been due to begin touring in North America.
There will be heavy showers on Saturday though sunshine will be enjoyed by many across the UK before a similar outlook on Sunday.