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Discover key insights in the latest KRI (Kepler Retail Index) update for the week ending 28/01/2024
Retail foot traffic trending in the right direction but sales very weak due to the biggest decline in Sales Conversion on record
- Passer-By Traffic this week was only down 2.6% YoY and excellent Shopfront Conversion (up 8.7% YoY) resulted in Inside Store Traffic being up 5.9% YoY (now in positive territory for 3 weeks in a row)
- While higher Inside Store Traffic figures should be good news for retailers, this increased Foot Traffic did not translate into sales. Sales Conversion plummeted (down 10.8% YoY) to the worst weekly result on record. This was driven by the combination of higher Inside Store Traffic (up 5.9% YoY) and a 5.5% YoY drop in sales transactions
- Weak ATV (Average Transaction Value) down 3.9% YoY, was a further drag on sales performance
- Overall sales ended the week down 9.1% YoY which was 3.3% points worse than retailer expectations
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