Discover key insights in the latest KRI (Kepler Retail Index) for the week ending 18th February 2024.

LOVE WAS IN THE AIR FOR RETAILERS THIS VALENTINE’S DAY WITH TRAFFIC AND SALES UP ON LAST YEAR

• Inside store traffic growth remained strong this week (up 6.1% YoY), continuing a 6-week run of positive growth driven by strong shopfront conversion performance (up 12.0% YoY).  All categories (except stationary) and all retail precincts saw inside traffic growth this week
• Sales achieved a small growth of 0.2% YoY this week, the first week of positive sales growth since the week before Christmas.  The strong growth in inside traffic volumes combined with a 2.0% improvement in average transaction values were able to more than offset the continuing weakness in sales conversion rates (down 7.5% YoY)
• Popular Valentine’s Day gifting categories of Health & Beauty and Watch & Jewellery both saw strong sales growth (up 25% and 5% YoY respectively)
• Shoppers were keen to make sure they impressed their Valentine with average transaction values 7% higher on February 14 compared with the rest of the week

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.