RETAIL EYE - TRENDS IN RETAIL AND POS

Every month we capture what is happening in retail – understanding key themes and trends for POS.  This snapshot guide helps to bring the high street to your desk monthly.

FOOTFALL

According to Springboard, footfall fell 2.8% in March compared to February. From the five weeks from 26 February – 1 April 2023, Springboard reported the gap widened to -18.7% compared to pre-pandemic 2019 levels and was down -0.6% compared to March 2022. The cost of living crisis is clearly at the forefront of many shoppers’ minds and is creating spend cautiousness. The purpose of trips appears to be around essentials rather than experience with an annual decline in footfall of 1.4% across high streets at the weekend – the first month this has occurred.*

MOTHER’S DAY

Mother’s Day was widely celebrated across retail. The grocers in particular had a range of displays and gift ideas for spoiling Mum. Data for spend on Mother’s Day in the UK is still based on 2021 research, where total spend was projected to reach £1.34 billion. This was a rise on the £1.23 billion spent in 2019.** 30 million cards were bought for Mothering Sunday in 2019 and 73% of people in the UK bought a Mother’s Day present in 2019.*** The importance of the day remains for retail as it is considered the 5th most popular event of the year in the UK.***

For a full copy of the report contact info@teamfero.com.                     

*Springboard 

**Statista  

***YouGov