May 2, 2024

KEPLER RETAIL MARKET INDEX (KRI) Month Ending 28/04/2024

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Monthly KRI Summary

Discover key insights in the latest KRI (Kepler Retail Market Index) for the Month Ending 28th April 2024.

April Retail Sales Down 3.3% on Last Year, the Second Best Month of FY24

  • Following a weak result in March (sales down 6.4% YoY), we have seen a positive shift in momentum this month, with April retail sales down only 3.3% YoY. 
  • Passer-by Traffic had the smallest decline seen this financial year, down 5.7% (against a rolling annual total of down 8.6%) which when combined with an increase in Shopfront Conversion Rate of 6.5% YoY resulted in Instore Traffic being marginal up on last year (+0.4%).
  • Sales Conversion Rate continues to be a drag on retail sales (down 5.0% YoY) but has improved from the lows we saw in January and February this year (down 7-8% YoY).
  • Looking at year-on-year performance across the two weeks around the Easter weekend, the results were weak this year. Passer-By Traffic was down 12.8% YoY, Inside Store Traffic was down 7.8% YoY and Sales declined by 10.1% YoY.
  • From the State perspective, Queensland, South Australia and NSW were the best performing States while Victoria and Western Australia were the worst performers (both with Sales down around 7% YoY).

Did you miss our webinar? 

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.