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 rose by 9.4% in February compared to the previous month, in contrast to a drop of 18.8% in January compared to December. The increase in footfall was driven by the school half-term; a rise of 7.6% in the third week of February was reported.* The gap in footfall from 2019 widened in February to -12.5%, from -12.3% in January.* Recovery in footfall back to pre-pandemic levels was larger at weekends when it rose to 29.8% of the weekly total in February, a slight increase from 28.9% in 2019.*

VALENTINE’S DAY

Valentine’s Day dominated brand and retailer promotions this month. Research by Barclays shows the cost of living crisis could have an impact on spending this year with a quarter of Brits planning to spend less on Valentine’s Day this year compared to 2022 and one in four are planning to swap a night out for a night in, due to concerns over rising costs. Pets may be in for treats though - of those buying gifts for their pets, one in three intends to spend more on their pet than their partner.**

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

*Springboard

**Barclays