Discover key insights in the latest KRI (Kepler Retail Market Index) for the Month Ending 30th June 2024.

Australian Retail Foot Traffic and Sales in June 2024 Best Monthly Result for FY24

• The improving trend in retail foot traffic and sales that we saw in April and May has continued into June. This should give retailers some cautious optimism as we head towards the second half of 2024, with tax cuts rolling out in July.
• In March, we saw retail sales down 6.4% YoY which moderated to a decline of 3.3% YoY in April and 3.5% on May 2023. June is the first positive YoY month for the last 12 months, with sales up 2.1%.
• The four best sales months of FY24 YTD (from a year-on-year perspective) have occurred in the last five months (March being the exception), providing some optimism for future trading performance.
• Passer-By Traffic remains depressed, down 6.0% YoY.  However, it was the third-best result of FY24 behind February and April.
• Strong growth in Shopfront Conversion (+7.6% June YoY) has resulted in Inside Store Traffic being up 1.1% YoY in June, the second-highest month of FY24 behind February. This ongoing improvement in Shopfront Conversion (+9.5% YoY over the last 12 months) reflects a sustained change in consumer behaviour. Consumers are now much more purposeful in their shopping missions than two years ago.
• In June, we continue to see a significant improvement in Sales Conversion Rates (SCR). In January and February, SCR was down around 7-8% YoY which moderated to -5% YoY in March and April, and -1.6% in May. In June, SCR was only down 1.1% YoY which was the best month of FY24.
• From the State perspective, Tasmania and Victoria were the only states down YoY, with NSW and SA performing the strongest with sales up 4.2% and 4.0% respectively June was the first month of FY24 with positive average YoY sales growth, at 1.9%.

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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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.