Discover key insights in the latest KRI (Kepler Retail Index) update for the week ending 03/12/2023.
- Retailers were expecting a significant slump in sales after the successful Black Friday sales period (sales targets were down 12.5% on last year) and this is what occurred, with sales value down 9.7% on the comparative week last year. The slight silver lining for retailers was that sales declines were less than expectations
- The sales decline of 9.7% was the largest decline seen in 11 weeks and average transaction value declined 1.7%, reversing the positive trends seen over the prior 4 weeks
Outlets were the only retail locations to show positive sales growth over the comparative week last year (up 2%)
- Passer-by traffic was well down again this week (-11.4%) and will be a key indicator to watch as we head into the Christmas trading period