August footfall disappoints but September may see a fashion-led mini-boom, says Synovate
4 九月 2009
UNITED KINGDOM — The latest Synovate Retail Traffic Index (RTI) for August has seen the return of disappointing shopper numbers for the majority of over 5,000 non-food retail outlets tracked throughout the UK. The RTI recorded a fall of 2.9% in retail footfall year-on-year in August and a 2.2% drop on July's numbers.
Synovate retail psychologist Dr Tim Denison explains, "These remain very testing times. Last month we reported that July's footfall showed a slight increase on the previous year, for August it has gone the other way. We're sailing in fluky conditions, where a slight change in wind direction causes the shopper to change tack. Last month the marginal uplift in consumer confidence seen during the early summer months stalled again, no doubt affected by news of the rise in the rate of unemployment to 7.8%. It is this type of headline information which appears to be holding sway with consumers on whether they decide they can afford to spend a little more or whether they should be more cautious and save. With new figures from the Bank of England showing that people generally are electing to pay off their debts rather than accumulate new ones, credit cards have been given their own summer holiday in many wallets and purses.
"The line between deciding to save or spend a little more remains a fine one, which gives retailers cause for some optimism. As we change seasons, we expect those stores offering new autumn/winter lines that are well-priced and on-song to tempt more people to tiptoe into the spending set. Consumers will doubtlessly be aware that retailers will not be carrying so much stock, so early raids are likely to avoid disappointments.
"The trick for retailers will be to promote strongly, effectively and on-message to capitalise on the opportunity, while the benign conditions remain. If this is achieved we can hope to see a kick-start to shopper numbers in September, particularly for retailers of women's fashion. The kids are back at school and there is scope for working women and housewives alike to feel tempted to revive their wardrobes in the relative peace and tranquillity before the Christmas madness starts, if garments and prices catch the eye. With another winter of uncertainty ahead, retailers will be intent on making the most of the calm, unsure of how stormy the economic conditions will become and how badly these will further affect consumer confidence and spending patterns."
Enquiries for 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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Chris Scoot
Synovate Retail Performance |
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34 Walker Avenue |
Tel. +44 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 6,400 staff across 62 countries.
For more information on Synovate visit www.synovate.com.