Discover key insights in the latest KRI (Kepler Retail Index) for the week ending 25th February 2024.

RETAILERS NEED TO ADDRESS DRIVERS OF POOR SALES CONVERSION WITH STORE TRAFFIC UP 2.9% BUT SALES DOWN 5.7% IN THE FIRST TWO MONTHS OF 2024

• Inside store traffic growth remained in positive territory this week (up 2.2% YoY), continuing a 7-week run of positive growth.  Strong shopfront conversion (up 11.0% YoY) continued to more than offset the weakness in passer-by traffic (down 7.9%)
• Sales were down 4.3% YoY this week, reverting to trend, following the smallest of growth the prior week.
• Across the first two months of 2024, instore foot traffic has been up 2.9% on the same period in 2023 but retailers are not seeing this benefit in sales (down 5.7%) due to very poor conversion of this store traffic into sales transactions (down 7.9%)

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Get insights on Australia’s retail conditions by watching our first 2024 webinar. Danny French, David Mah, and Kylie Smart share detailed information on the Christmas and New Year trading conditions and the retail outlook for 2024.