Fall in retail activity hits new Plateau – not expected to get much worse
7 May 2008
UNITED KINGDOM — Latest figures from the Retail Traffic Index (RTI) by analysts Synovate Retail Performance, now part of global research company Synovate, show that the number of non-food shopping trips in April was 4.0% fewer than for the same month in 2007, but was up by 2.9% on March.
Synovate Retail Performance's retail psychologist, Dr Tim Denison said; "It is somewhat reassuring to show that there was a slight uplift in shopper numbers in April against a very quiet and depressing March, in which Easter failed to provide its normal stimulant. We generally expect April to be busier than March, but this is partly because Easter and the school holidays normally fall within the month. In times when we have had a March Easter, footfall has only risen by 1.1% on average between March and April, so a rise of more than double that average can only be seen as welcome news, despite March being so weak.
"The year-on-year comparison is less reassuring. At minus 4.0% it is the worst percentage drop since November 2006, when some internet purchasing and a good deal of pre-Christmas internet research were starting to have a significant effect on people's early Christmas shop-visiting patterns. We must bear in mind, also, that 2007 was such an erratic year for retailing. The long stretch of fine, summer weather in April, coinciding with Easter, certainly brought the shoppers out last year, so despite the negative indicators from so many quarters, perhaps we shouldn't be guilty of talking ourselves into a worse state than actually exists. Granted the marketplace is tough, but it is not cataclysmic.
"We believe that the rate of year-on-year decline in shopper numbers that we have seen at the start of 2008 is now reaching a new plateau. We don't expect it to fall much below the 4% year-on-year deficit mark over the coming months, though in itself this is challenging enough for retailers to deal with, and it is hard to see when there is likely to be any significant improvement.
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
|
Tim Denison
Synovate Retail Performance |
|
|
34 Walker Avenue |
Tel. +44 (0) 1908 682 700 |
|
Theo Chalmers
Managing Director, Verve Public Relations |
|
|
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. It supplies national and international retailers with essential business metrics to drive accountability and performance improvement.
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.
General information for Synovate Retail Performance, email info.rp@synovate.com
Synovate Retail Performance Limited is registered in England and Wales under number 3552625 with its registered address at Minerva House, 5 Montague Close, London, SE1 9AY, UK. Synovate Retail Performance is a wholly owned subsidiary of Synovate.
About Synovate
Synovate generates insights to help clients drive competitive brand, product and customer experience strategies. Now part of Ipsos, with offices in over 80 countries, our approach combines best in class global research capabilities with personalised service, local knowledge and the flexibility to create teams and processes that meet clients' specific requirements. At Synovate, our clients sit at the top of our organisational chart, driving us to continually develop more innovative research solutions that predict actual business outcomes.
For more information on Synovate visit www.synovate.com.