Discover key insights in the latest KRI (Kepler Retail Market Index) for the Month Ending 25th August 2024.

Australian Retail Sales Up YoY for Three Consecutive Months

• Australian retail foot traffic was slightly weaker in August compared to July. 
  Passer-by traffic was down 8% YoY, compared to -5% in July.
  Inside Store Traffic was down 1.4% (compared to +1.1% in July, which was the best month since February 2024).
• Transaction volumes were down 1.8% in August due to the 1.4% drop in store traffic combined with a 0.4% YoY decline in Sales Conversion (consistent with the trend observed over the last three months).
• Average Transaction Values were up 1.9% YoY in August (compared with +1.2% 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 ten consecutive months.
• Sales were up 0.1% YoY in August. Sales have now been in growth for three consecutive months.
• In our recent webinar (watch here), we shared our outlook for the first half of FY25.
  • July to September Quarter: Inside Store Traffic is estimated to be up 0-2%
    and Sales is estimated to be up 0-2%. 
  • October to December Quarter: Inside Store Traffic is estimated to be up 1-4%,
    and Sales are estimated to be up 2-5%. 
• The top 3 things we think retailers should be focused on in FY25 are:
  • Store Location: Ensure your stores are in the right centres, in the right areas
    of the centre, and that you have a clear strategy for your brand’s presence in Outlet Centres.
  • Sales Conversion: Failing sales conversion was the key driver of an overall decline in retail sales in FY24.  Retailers need to focus on the basics to ensure that sales conversion and average visitor value is maximised. 
  • Key Events: Key events can make or break a retailer’s year.
    Ensure you have a compelling offer backed by great planning and execution for Black Friday and Christmas (For insights on Black Friday success in 2024, check out our latest eBook Report).

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 

Want to know more?  Get in touch to subscribe to the Kepler Retail Market Index

Did you miss our webinar? 

Get insights on FY24 in Australia, where we will unpack what happened in the financial year 2024. Danny French, and Kylie Smart share detailed information on shopper behaviour and the impact on retail results including expectations for the financial year ahead.