January 30, 2024

KEPLER RETAIL INDEX (KRI) week ending 28/01/2024

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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

  1. 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) 
  2. 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 recordThis was driven by the combination of higher Inside Store Traffic (up 5.9% YoY) and a 5.5% YoY drop in sales transactions
  3. Weak ATV (Average Transaction Value) down 3.9% YoY, was a further drag on sales performance
  4. Overall sales ended the week down 9.1% YoY which was 3.3% points worse than retailer expectations 

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.

Link here