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Monthly KRI Summary
Discover key insights in the latest KRI (Kepler Retail Market Index) for the Month Ending 28th July 2024.
FY25 Off to a Flying Start for Australian Retail with The Strongest
Year-on-Year Sales Results in 17 Months
- Australian retail foot traffic continued to strengthen in July. Passer-by traffic was down only 5% YoY, the smallest monthly decline we have seen in over 12 months. Inside Store Traffic was up 1.7%, the best result since February 2024. Inside Traffic has now been in positive territory for 3 out of the last 4 months.
- Transaction volumes were up 0.9% in July, as the 1.7% growth in Store Traffic was partially offset by a 0.8% decline in Sales Conversion. This is the highest Year-on-Year growth in transaction volumes since February 2023.
- Average Transaction Values were up 1.4% YoY in July, with the average price per item up 3.2% YoY, reflecting a combination of inflation and consumer downtrading. We have now seen Average Transaction Values in positive territory for nine consecutive months.
- Sales were up 2.3% YoY in July, the best result since February 2023 (17 months ago), which included the impacts of cycling the tail end of COVID restrictions.
- Interestingly, despite the continuing cost–of–living pressures on households, retailers with higher Average Transaction Values ($150+) performed the best in July, with Inside Store Traffic and Sales both up around 5% YoY.
About Kepler’s Retail Market Index
- Kepler’s Retail Market Index provides the most insightful and most timely view of retail industry performance across both Australia and New Zealand
- The index is based on anonymised data from Kepler’s Retail Foot Traffic Solution customers, primarily non-food specialty retailers
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