December 19, 2023

KEPLER RETAIL INDEX (KRI) week ending 17/12/2023

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Discover key insights in the latest KRI (Kepler Retail Index) update for the week ending 17/12/2023.

Cost of living pressures continue to impact the Christmas trade adversely.

  • Cost of living pressures for households are worsening conditions for retailers as 2023 progresses. In Q1 2023 (January to March), Passer-By Traffic was down only 2.4% YoY (Year on Year), with traffic levels continuing to fall throughout the year. For Q4 2023 to date, Passer-By Traffic is down 10.2% YoY. Retail Sales have followed a very similar trend across 2023.
  • Retailers were hopeful shoppers would find their Christmas spirit this week, with predicted Sales to be only 5.5% down YoY – a much more optimistic view than the prior two weeks of around 12 to 13% down YoY.
  • Unfortunately, consumers were not eagerly stuffing their stockings. This week’s Passer-By Traffic was down 11.4% YoY (the fourth week in a row of double-digit decline), and Inside Traffic was down 9.1% YoY (the largest Inside Traffic fall seen in six months). These low traffic numbers were a key driver of this week’s Sales, which was down 13% YoY.