Poor easter fortnight for retail predicted; shoppers down 5.2% on Easter 2007
18 March 2008
UNITED KINGDOM — Predicted figures from the Retail Traffic Index (RTI) by analysts Synovate Retail Performance, now part of global research company Synovate, show that this year's early Easter - the earliest since 1913 - and the expected poor weather, which we've already seen the first of this Sunday (16th March), acting in concert with financially stretched consumers, are likely to mean a disappointingly poor Easter for retailers.
Synovate Retail Performance's retail psychologist, Dr Tim Denison said; "Nobody can escape the fact that the start of 2008 has been challenging for retailers across the country. I do not relish being the harbinger of bad news, but our latest forecast does not paint a very healthy picture for Easter retail and those retailers relying on the traditional Easter 'boost' to their takings are likely to be rather disappointed.
"A couple of key factors conspire against a busy fortnight (between Sunday 16th March and Saturday 29th March inclusive). Firstly, this is the earliest Easter for almost a century and the earlier it falls the smaller the boost to shopper numbers. Secondly, the weather outlook of predominantly wet weather will be another key depressant, if indeed the forecast is realised.
"DIY chains and garden centres, in particular, always look forward to shoppers embarking on home improvement, spring cleaning and gardening projects. Last year under the Easter sun, barbecue sales were twice as high as the previous Easter and plants and garden furniture sales up by more than a quarter. This year they will be desperately hoping that the rain stays away because if not, it will be a damp squib for them, not the seasonal boost that they usually receive.
"In fact, wherever you look on the high street at the moment, it is hard to spot any hot spots, with the exception of the food juggernauts. High ticket items are under the shadows of straining wallets and a slowing housing market and fashion looks in a not too dissimilar state. Whereas last year summer wear, particularly men's shorts, were simply flying out of the stores at Easter, this year it is more likely to be woollies and wellies. The lack of any prolonged spell of weather, be it cold, or wet, mild or sunny acts to cause shoppers to prevaricate over purchasing clothing. People generally need a week or so of settled weather to decide that they really need some new clothes, and we're just not seeing that at the moment. The lack of a strong, well-defined new style, whether popular or cult, is also hurting the high street."
"If it's not going to happen at Easter this year, we must all hope for a long, hot summer to help lift consumer confidence and spending. This said, it might take more than a spell of good weather."
All enquiries for follow up or interviews with Dr Tim Denison should be directed to Theo Chalmers at Verve PR on 01908 275271 (weekdays) or 07932 004632.
Contact(s) for this press release
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Tim Denison
Synovate Retail Performance |
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34 Walker Avenue |
Tel. +44 (0) 1908 682 700 |
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Theo Chalmers
Managing Director, Verve Public Relations |
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Park House, 8 Grove Ash |
Tel. +44 1908 275 271 |
Synovate Retail Performance provides footfall monitoring solutions, shopper tracking systems and in-store behavioural research to retailers worldwide. Its core products – Shopper Count, Shopper Interact and Shopper Engage – scientifically measure all aspects of a shopper experience from store entry to exit. Originally founded as Solution Products Systems Ltd (SPSL) in the UK in 1998, it was acquired by Synovate in December 2007 and now offers unrivalled global reach and scalability through Synovate's network of in-country teams and three specialist hubs based in Europe, North America and the Far East.
It supplies national and international retailers with essential business metrics to drive accountability and performance improvement. Synovate Retail Performance harnesses powerful retail and shopper intelligence and creates real deployable insight, to deliver its mantra of "Measure, Manage, Improve" to clients.
Synovate Retail Performance is home to the Retail Traffic Index series, which for over 10 years has been the industry's leading tracker of national, regional and sector retail footfall trends. It is also co-founder of the KPMG / Synovate Retail Think Tank, offering thought leadership on the state of retail health and the future of retailing. Synovate Retail Performance is part of Synovate Customer Experience, Synovate's global business practice specialising in the profitable management of the total sum of all customer interactions.
For more information on Synovate Retail Performance click here.
About Synovate
Synovate, the market research arm of Aegis Group plc, generates consumer insights that drive competitive marketing solutions. The network provides clients with cohesive global support and a comprehensive suite of research solutions. Synovate employs over 6,000 employees across 62 countries.
For more information on Synovate visit www.synovate.com.